Power Engineering Energy for the Arabian World: Middle East Spends US $ 180 Billion
The awakening industry in the Middle East needs 100 additional Gigawatt of energy within the next 10 years, market analysts expect. And the Arabian countries are known for thinking big–scale: Currently, 113 power, water and energy projects are planned for the region worth a total of 180.4 billion US $.
Dubai/United Arabian Emirates – The Middle East continues on its way to becoming a future global industrial hub by investing large sums in 113 new power, water, energy projects. The United Arabian Emirates alone are currently planning to spend US $ 34.2 billion on 20 projects, including a new US $ 20 billion nuclear power plant in Abu Dhabi, to quench the regions growing hunger for energy: The Cooperation Council for the Arab States of the Gulf (GCC) expects energy demands in the region to rise by 8 to 10 percent annually.
The lion's share of these investments will be held by Saudi Arabia, which plans to invest US $ 100 billion for the King Abdullah City of Atomic and Renewable Energy and further 15 projects with an total of nearly US $ 9 billion.
The Arabian World Buzzes With Energy Projects
Also Qatar plans new water and power facilities worth US $ 4.8 billion in the next three years, including the US $ 3 billion Qatar Facility D power project, which is slated have construction started on in 2012. Bahrain has projected to invest US $ 4.2 billion. 17 new projects with a total value of US $ 4 billion are planned in Kuwait, while Oman has put aside US$2.9 billion for 13 new power, water and energy projects which will begin construction in 2012.
Additional 100 GW Required Until 2022
According to the World Energy Council, the GCC will require 100 GW of additional power over the next 10 years to meet growing demand. The power sector will require US $ 50 billion worth of investments in new power generating capacity and US$20 billion in desalination,” said Anita Mathews, director of the Middle East Electricity Exhibition.
“In response, new contractor awards in the power, water and renewable energy sectors are being announced every month in the Middle East, as seen in December last year, when six new contractor awards were announced in Kuwait, Qatar and Iraq, valued at US$1.5 billion, while in January this year, five new contractor awards worth US $ 130 million were announced in UAE, Kuwait, and Oman.”