(MENAFN- Khaleej Times) Approximately 80,000 MW of additional power and 290 million gallons of water will be required by GCC countries per day by end-2015 at an average of seven per cent annual growth as the region struggles to meet the high demand caused by increasing population and new infrastructure projects, according to conservative estimates by regional utilities companies.
"As the region explores ways of supplying the high demand for both power and water, private utilities companies in the region are faced with a major challenge - obtaining finance and funds for new projects," said Richard Menezes, Managing Director of Utico Middle East. "As with the rest of the world, regional utility companies struggle with finding the right contract with the right terms and right financiers, while debating the right tariffs and policies."
These issues will be raised by government authorities and private sector companies in the Middle East along with their counterparts from across the world at the 2nd Annual Global IWPP (independent water and power projects) Summit organised by Fleming Gulf and taking place in Ras Al Khaimah from November 24 to 26.
The summit is being held under the patronage of His Highness Shaikh Saud bin Saqr Al Qasimi, Member of Supreme Council and Ruler of Ras Al Khaimah, and will be attended by senior executives from the region's utility and energy sectors.
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