| 22 Mar 2008 |
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GCC countries to invest an estimated $120 billion over the next 10 years.
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Abu Dhabi, March 22nd, 2008(WAM)--The Gulf region is seeing an annual average increase in demand for power at around 8 per cent, according to industry experts.With renewable water availability expected to fall and populations rapidly rising, the region's authorities are having to continuously increase supplies, said Neil Walker, an energy expert.The first phase of the GCC interconnection gridGCC 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 is going into the power sector over the next few years, providing excellent business opportunities across the Gulf region.With over 120 expected exhibitors and over 3000 expected visitors from over 50 countries, POWER-GEN Middle East will be the most important annual meeting place for international power and water executives for the MENA region.© Copyright Emirates News Agency (WAM) 2008.
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