Saudi to double technology spending to $4.27bn

Kingdom's tech areas of focus include O&G, water, nanotechnology as a part of plan.

Saudi Arabia’s King Abdulaziz City for Science and Technology will double spending on technology research over the next five years to SR16bn ($4.27bn), a senior official at KACST said, according to a Bloomberg newswire report on Tuesday.

The kingdom has highlighted 11 areas of technology including oil and gas, water, and nanotechnology as part of its strategic plan, Prince Turki Bin Saud Bin Mohammed Al Saud, vice president for research institutes at KACST, the national science agency, told a conference in Jeddah, Saudi Arabia, Bloomberg added.

Saudi has already started building the first solar-powered water desalination plant, the first step in a three-part program to introduce solar energy into the Kingdom.

The programme, launched by KACST aims to help stabilise future power and water supplies inside Saudi Arabia through the creation of solar-powered desalination facilities.

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