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GCC states to invest $120b in power and water sectors
ABU DHABI -The Gulf region is seeing an annual average increase in demand for power of around 8 per cent, according to industry experts.
With renewable water availability expected to fall and population rising rapidly, the region's authorities have to continuously increase supplies, said Neil Walker, an energy expert.
"With all the GCC countries requiring significant growth in the power and water sectors, an estimated $120 billion investment is anticipated in the industry over the next 10 years," he said.
The first phase of the GCC interconnection grid is due to come on-line in 2008, providing inter-connected states with the chance to improve the economic and operational efficiency of their local power systems, while strengthening supply reliability and security.
An estimated 8 per cent of all Arab investment will be going into the power sector over the next few years, providing excellent business opportunities across the Gulf region.
With over 120 exhibitors and over 3000 visitors expected from over 50 countries, Power-Gen Middle East will be the most important annual meeting place for international power and water executives from the MENA region.
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