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MENAFN - 20/02/2014

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(MENAFN) Saudi Arabia will spend around USD173 billion on energy projects by 2018, placing it as the highest investor in the Arab World, Arabian Business reported.

The Arab Petroleum Investments Corporation said in a report that countries in Middle East and North Africa will spend a total of USD765 billion.

The report said: "Cost inflation remains one of the most important factors driving the increase in energy investment."

The UAE came second in terms of spending, as the country plans to invest USD113 billion during the same period. Algeria came third with planned investments at USD82 billion.

 






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