Middle East countries invest USD 180bn in energy, water projects.

By bne IntelliNews February 3, 2012
Middle East countries are implementing new power, water, and energy projects worth a combined USD 180bn, Emirates News Agency reported. Saudi Arabia is the regions biggest investor with its USD 100bn King Abdullah City of Atomic and Renewable Energy project that is expected to enter construction phase in 2013. In addition, there are 15 more projects currently underway or due to start in 2012 in Saudi Arabia with the total cost of USD 9bn. The highest number of projects, 20, is implemented in the UAE and their combined value stands at USD 34.2bn. Of the total, USD 20bn were allocated for Abu Dhabis nuclear power plant project, whose construction started in late-2011. Qatar plans to build eight power and water facilities in the next three years at the total cost of USD 4.8bn, including the USD 3bn Qatar Facility D power project which is to start in 2012. Bahrain is investing USD 4.2bn in four utility projects, while Kuwait has 17 projects valued at USD 4bn. Oman is to start the construction of 13 new power, water and energy projects this year, for which the country allocated USD 2.9bn. Jordan is to launch nine projects mostly in the water sector worth USD 6.1bn in 2012, while Morocco allocated USD 3.8bn for renewable energy projects over the next two years. At the same time, Egypt and Iraq committed to spend USD 5.3bn each on new utility projects over the next two years. The World Energy Council estimates that the GCC will require 100 GW of additional power over the next 10 years to meet expanding demand. For that, the power sector needs USD 50bn worth of investments in new power generating capacity and USD 20bn in desalination.

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