Saudi to spend more than $133bn over 10 years on power
- Saudi Arabia: Tuesday, December 04 - 2012 at 05:41
Saudi minister of water and electricity, Abdullah al-Hussayen has said the kingdom will need to invest more than SR500bn ($133bn) over the next 10 years to meet rapidly rising power demand, Reuters has reported. Power consumption rose by 9% in the first half of 2012 from last year's figure, he said, adding that peak demand in the summer was up 7%, or an increase of 3,500 megawatts. Last May, deputy electricity minister revised up estimates for the amount of investment needed in power projects over the next decade to SR400bn from SR300bn.
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