Investment needed in MENA electricity
The MENA region needs to invest in electricity, according to a new report.
The MENA region needs around $250 billion in electricity investments during the next five years as demand is growing exponentially, according to a report released Monday.
The report, dubbed “MENA Energy Investment Outlook,” said power capacity in the region should increase by 7.8 percent annually, translating to a capacity 124 gigawatts.
The report was published ahead of Middle East Electricity 2013, one of the largest energy expos in the region, which will take place in Dubai in February. The Gulf Cooperation Council’s power sector will require $105 billion or 42 percent of total investments, the report said.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?
- 'Middle East needs $1trillion worth of energy investments'- IHS
- Egyptian electricity sector needs EP 4.5 billion in investments
- MENA region to boost spending on power projects as demand grows
- Syria must invest four billion dollars to cover electricity needs to 2010
- MENA's energy future requires $145.7b in investments