Middle East Tuesday, March 18, 2008

Saudi Arabia to invest $60 bn on water infrastructure

From correspondents in Emirates, United Arab Emirates, 05:30 PM IST

Saudi Arabia is planning to invest up to $60 billion over the next 20 years to improve its water infrastructure to meet the requirements of its growing population.

'The demand for water in Saudi Arabia is growing at 6 percent annually as of now,' Loay Al Musallam, Saudi Arabia's head of privatization team and deputy minister for planning development, told the Gulf News.

Saudi Arabia's population is expected to touch 36 million from the current 22 million by 2032.

The $60-billion investment includes capital investments for expanding distribution water infrastructure and meeting cost of operations, Al Musallam said.

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