KSA announces $187 billion infrastructure plans
KSA will focus its infrastructure spending over the next twenty years on electricity and water facilities' upgrades (Courtesy of Arabian Business)
Saudi Arabia plans to pump in more than SR700 billion ($187 billion) in the next 20 years for the upgradation of water and electricity production facilities and infrastructure projects, said a report.
This becomes all the important as the demand for power and water in the Kingdom is poised to grow by 10 per cent annually, reported the Arab News, citing a senior official.
This, by global standards, is very high and constitutes a key challenge, which will consume all locally-produced fuels for the production of water and electricity in the next two decades if consumption continues at the current rates, Adil Bushnaq, the head of Saudi Water and Power Forum (SWPF), was quoted as saying in the report.
"The Kingdom is one of the leading countries in using water technologies and considered the biggest water desalination producing countries. This has made it imperative for the Kingdom to work out strategic plans to cut down desalination costs and increase products and services in this regard," he added.
- 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?
- Saudi Arabia Announces US $400 Billion Infrastructure Investment Plans
- KSA looks to invest $107bn in electricity
- Oman to pump $6.5B into water infrastructure projects
- KSA announces plans for 43 million square port on west coast
- Infrastructure projects in excess of SAR 375 billion sustain Saudi construction boom