Released May 19, 2014 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Driven by rapidly rising domestic demand for water and electricity, Saudi Arabia has increased its estimated investment needs 60% from the previous figure of $133 billion through 2020, to $213 billion through 2023. The previous estimate was made before major infrastructure and housing projects were announced.
Deputy Electricity Minister Saleh al-Awaji said the demand for power and water has grown significantly in recent years, as an increasingly wealthy population consumes more to support affluent lifestyles and escape the searing summer heat. In the water and power sectors, the high rate of demand growth is reaching challenging levels. He added that in summer, peak power demand is approaching the country's total installed capacity of about 60,000 megawatts (MW).
"We need investments in the water [desalination] and power sectors in the next 10 years of about $215 billion, and we expect the private sector investment to be 30% either in power or water," al-Awaji said.
Ziad bin Mohammed al-Shiha, the chief executive officer of Saudi Electricity Company (SEC), said that the company plans to spend $166 billion by 2023, adding 40,000 MW of installed generating power, as well as transmission and distribution network expansions.
For related information, see January 31, 2014, article - Middle East Bets Big on Solar Resources.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Deputy Electricity Minister Saleh al-Awaji said the demand for power and water has grown significantly in recent years, as an increasingly wealthy population consumes more to support affluent lifestyles and escape the searing summer heat. In the water and power sectors, the high rate of demand growth is reaching challenging levels. He added that in summer, peak power demand is approaching the country's total installed capacity of about 60,000 megawatts (MW).
"We need investments in the water [desalination] and power sectors in the next 10 years of about $215 billion, and we expect the private sector investment to be 30% either in power or water," al-Awaji said.
Ziad bin Mohammed al-Shiha, the chief executive officer of Saudi Electricity Company (SEC), said that the company plans to spend $166 billion by 2023, adding 40,000 MW of installed generating power, as well as transmission and distribution network expansions.
For related information, see January 31, 2014, article - Middle East Bets Big on Solar Resources.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
