Rail in focus as Saudi Electricity invests $21bnby Neha Bhatia on Mar 6, 2016
The chief of Saudi Electricity Co. (SEC) said the agency will provide 700 megawatts (MW) of electricity for the Riyadh Metro and Haramain Railway projects.
SEC chief executive officer, Ziad bin Mohammed Al-Shiha, said project plans for the future will be based on the demand patterns of Riyadh Metro, Haramain Railway, and other projects in the Kingdom which require electricity.
Riyadh Metro will consume 400MW of electricity, while the Haramain project is doe to consume 300MW.
SEC's projects currently under construction are valued at $21.3bn (SAR80bn), with an equivalent amount due for award in 2016 and beyond.
"The growth in demand for electricity in 2015 increased by 10% to more than 6,000MW, with Makkah seeing a growth of about 20%, Madinah about 15%, and the Northern Region about 14%," he said.
According to Arab News, Al-Shiha said electricity demand in the Kingdom is significant, with new projects annually costing between $10.6bn (SAR40bn) and $16bn (SAR60bn).