SEC revises investment plans
$80bn investment plan altered to speed up power delivery
The Saudi Electric Company (SEC) may alter its $80 billion 10-year investment plan as it looks to speed up delivery of its power projects to meet infrastructure demands, according to its chief executive in a Reuters interview.
The state utility firm has said that it plans to invest its funds in the 10 years to 2018 in order to boost generating capacity by 30,000 megawatts in the year 2020, giving the Kingdom a total generating capacity of 80,000 megawatts.
“We revised in 2010 and we made many projects earlier than planned,” Ali Saleh Al-Barrak told the news agency, also stating that the SEC would continue to adhere to its investment programme for the time being, but might look at revising it in 2013.