$88bn power/water investment for Saudi
Kingdom to invest heavily in power and water over next decade
The Kingdom of Saudi Arabia will need to invest $88 billion over the next 10 years, to cope with demand for power that is continuing to grow by up to eight per cent every year.
Abdullah Al Husayen, the Kingdom’s water and electricity minister, told a conference that the water and power sector would need large investment over the next decade.
“It is expected that the maximum power load will reach 75,000 megwatts in the next 10 years, which means the need to invest around 330 billion riyals ($88bn) to boost generation capacity and transmission and distribution networks,” Husayen said.
“The private sector is expected to contribute roughly 30 per cent of it, or the equivalent of 100bn riyals,” he continued. “It is an approximation that the demand for power is expected to continue growing by seven to eight per cent during the next 10 years.”