Dubai commits $19.6bn to utility projects

by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 29 September 2008

POWER PLAN: Dubai says it is committed to investing nearly $20 billion into utility projects. (Getty Images)

Dubai has committed $19.6 billion to finance utility projects either implemented this year or under construction.

Dubai has grown rapidly as a popular location for international companies increasing operations in the Gulf to participate in the region's economic boom.

Trade, tourism and financial services have all expanded quickly, contributing to average annual power demand growth of 15 percent per year, state news agency WAM said.

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The emirate plans to quadruple electricity capacity to around 22,000 megawatts by 2017 from just under 5,500 MW last year to feed ambitious plans to grow the economy by 11 percent per year until 2015.

The allocation would allow Dubia Electricity and Water Authority (DEWA) to implement its biggest projects so far, WAM reported DEWA's managing director Saeed al-Tayer as saying.

The largest project yet is a power plant at Hassyan due to add 3,000 MW by 2012 and another 6,000 MW when it is completed by 2017. (Reuters)

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