KSA to invest $35.7bn in power, water in 2014
Projects will be funded through an interest-free loan of US $18bn
The Saudi Arabia government has planned to invest up to US $35.7bn in water and electricity projects in 2014.
The kingdom's water and electricity minister Abdul Rahman Al Hussein has said these investments comprise a US $26.6bn allocation towards power projects and the remaining US $9bn towards water projects, local media reported.
The ministry said the government is pushing ahead with plans to restructure Saudi Electricity Company (SEC) into four firms overseeing electricity generation, transmission, distribution separately.
The demand for power in Saudi Arabia is likely to increase by 9 per cent per annum. Al Hussein said the projects will be funded through an interest-free government loan of US $18bn.