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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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