Dubai commits $19.6bn to utility projects

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.

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)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM