Business | General
Saudi power sector assets to increase
Saudi Arabia's minister of electricity and water expected the investments in the Kingdom's electricity power sector to reach Dh195.5 billion ($53.3 billion) by 2015.
- By Mariam Al Hakeem, Correspondent
- Published: 00:11 October 20, 2008
Riyadh: Saudi Arabia's minister of electricity and water expected the investments in the Kingdom's electricity power sector to reach Dh195.5 billion ($53.3 billion) by 2015.
"The electricity sector needs such a vast investment to implement its ambitious expansion plans so as to meet the fast growing demand for power, especially from the industrial sector," said Abdullah Al Hussain.
The number of consumers is expected to climb to 7 million within the coming seven years, compared to the current figure of 5.2 million, he said.
"Meeting this increase means an increase in power supply from 32,000 megawatts to 54,000 mega-watts," he noted.
The minister said this as he launched the nation-wide Electricity Rationalisation Campaign here on Saturday. He said the five-year long campaign is aimed at reducing wastage in the consumption of electricity to 30 per cent.
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