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Monday, November 9 - 2009

Saudi electricity to spend $28bn to meet rising demand

  • Saudi Arabia: Wednesday, July 01 - 2009 at 16:00

The head of Saudi Electricity said the state- controlled power producer plans to spend $28bn in the next three years to meet rising demand in the kingdom. Ali al-Barrak, chief executive officer of the Riyadh-based utility, told Bloomberf the firm also plans to invest $70bn by 2018 to add 25,000 megawatts and match demand spurred by a $400bn, five-year government-spending program and a growing population.

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