Power in the GCC
February 8, 2010 4:58 by kippreport
Estimates vary as to the extent of the GCC countries’ expected investment in the power sector.
A Proleads report in 2008 said that the six Gulf states have earmarked $217 billion on power projects, with Saudi Arabia allocating $111 billion on new power projects, followed by the UAE with 58 projects valued at $55 billion.
This is roughly in line with figures released prior to the GCC Power 2009 Conference, which estimated GCC under-construction power projects are worth $162 billion (with around 50 percent of the investment taking place in Saudi Arabia) with an additional $50 billion of investment by 2015.
However, the World Energy Council has a lower estimate of the future investment requirement. In 2007, the council said that the GCC’s power demand would require an additional $25 billion by 2017, adding that most of it was expected to come from the private sector.
Six degrees of Nicole Richie
Dubai Mall firm Majid Al Futtaim aims to double in size after strong 2014
Marina residents may need to recalculate their budgets
Dubai airport claims top spot for global passenger traffic in 2014
How will the car of the future look?