Saudi Arabia to invest USD 133 bln in energy, water projects

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Saudi Arabia to invest USD 133 bln in energy, water projects
Energy consumption in Saudi Arabia is witnessing an unprecedented growth, prompting a wave of investments expected to reach USD 133 billion (502.5 billion Saudi riyals) for various power generation and water projects in the next decade, organisers of an industry event said.

Being the third largest water consuming country in the world with an average consumption reaching 280 litres per day per capita, Saudi Arabia has earmarked up to USD 53 billion (202.5 billion riyals) in various water projects to be completed by 2022.

On the other hand, energy projects are expected to cost USD 79.9 billion (300 billion riyals), including in lighting projects recently awarded by the Saudi Ministry of Water and Electricity.

Saudi Energy 2013 -- the 16th International Trade Exhibition for Electricity Power Generation, Alternative Energy, Water Technology, Lighting & HVAC-- will be showcasing technology covering all energy sectors.

This will range from electricity generation and distribution to alternative and renewable energy technologies; modern lighting products and technologies; water and water resources management technologies; and HVAC (Heating, Ventilation and air conditioning.

The event will be held in Riyadh from May 26-29.

"The sharp increase in energy consumption in Saudi Arabia has been driven mainly by rapid social and economic development," Khaled Daou, Project Manager of Saudi Energy at Riyadh Exhibitions Company, said.

"As energy requirements hit new record highs each year, we are also seeing an increasing number of local and international suppliers, manufacturers and contractors offering a wide array of innovative products, services and technologies.

"These complement the KSA Government's efforts to address the Kingdom's spiralling energy generation needs," he said.

The event will be attended by exhibitors from China, Germany, India, Canada, France, Italy, Korea, Romania and Turkey, among others.


Read more about: saudi arabia, dollar
Story first published: Thursday, April 11, 2013, 14:32 [IST]
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