[2007-06-18]  Saudi Needs SR190bn Investment in Electricity to Meet Rising Demand
Saudi Arabia needs SR190 billion ($50.6 billion) in investment to meet its electricity requirements until the year 2015, according the Saudi Electricity Company. annual report for 2006 released recently. The report saw a seven percent annual growth in power demand in the coming five years.


The report attributed the increasing demand for electricity to expansion in economic, industrial, agricultural and real estate projects, necessitating establishment of new power generating plants.


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has set out a long-term plan taking into consideration the speedy economic developments in the Kingdom," said Mahmoud ibn Abdullah Taiba, chairman of the company's board of directors. "The plan estimates that SR190 billion in total capital investment is required to ensure electricity power stability and implement new power generation and distribution projects," he said.


Taiba emphasized his company's determination to supply electricity in all parts of the Kingdom. At present electricity is available in 10,749 cities, townships and villages across the country, he added.


Taiba said the new power generating plants, which are scheduled to be operational before next summer, would improve the Kingdom's power supply.


Source: Zawya