GCC to Invest $50 Billion in Power Projects in the Next 6 Years

According to the Economist Intelligence Unit (EIU), the Gulf Cooperation Council (GCC) countries are likely to invest as much as $50 billion (Dh184 billion) in power projects between 2009 and 2015.

The EIU says economies of the Middle East and North Africa (MENA) region are set to consistently outperform every other region in the world over the next five years. "This economic growth, coupled with increases in population, is placing extra pressure on governments to provide enough power capacity to meet demand. As such it is expected that the GCC countries will invest $50 billion to increase power generation capacity between now and 2015," the EIU said.