Saudis need $116 billion to satisfy electricity demands

Published May 9th, 2001 - 02:00 GMT

Saeed Al-Sheikh, a senior economist in the National Commercial Bank, said that the Saudi electricity sector would need nearly $116 billion in investments in the upcoming five years in order to satisfy the growing domestic demand for electrical power, reports the KSA Today internet site.  

 

Al-Sheikh also commented that the high domestic population growth rate is the major cause for the increasing electricity consumption in the kingdom. The Saudi population is expected to double by year 2023. —(Albawaba-MEBG)  

© 2001 Mena Report (www.menareport.com)


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