UAE needs $10b to satisfy energy demand by 2018
Wednesday, August 20th, 2008The UAE will need $10 billion to satisfy energy demand in the next ten years, due to increasing development and projects on land that are growing at the rate of 12 per cent each year, according to reports.
The Gulf Cooperation Council countries are developing power generation projects, collectively worth between $160-$220 billion.
These countries also play an important role in exporting capital, estimated at $30 billion, to third world countries, according to International Bank reports.
This would increase money flow, encouraging more projects to be established in the region.
Roughly 25 per cent of water in the Gulf region has been consumed, according to reports about energy consumption in the UAE, which says a further one-fifth of the resource is being used for power generation.
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