gulfnews : Gulf nations will spend $45b to expand power generation

Utility demand in the GCC is expected to grow 7 per cent to 8 per cent every year, with Gulf countries expected to spend $45 billion (Dh165.26 billion) before 2015 in order to add 32,000 megawatts of capacity, a report released by the Kuwait Financial Centre (Markaz) says.

It states that there are 361 power projects underway in the GCC at a total value of $277 billion, with 70 per cent of them in Saudi Arabia and the UAE. Saudi Arabia has the highest number at 161, followed by the UAE with 70.

The GCC countries have been trying to increase their power generation capacity for some years, the report points out, in an effort to meet rising demand from growing populations and economies.

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