HYUNDAI Heavy Industries co. ltd

Saudi forecasts spending $81bn on power plants by 2020

Saudi deputy minister for electricity, Saleh al-Awaji has said the kingdom needs SR303bn ($81bn) investment in its power sector over the next 10 years, Bloomberg has reported. The kingdom may need to raise by 30% its forecast for spending on power stations over the next decade, Al- Awaji, who is also chairman of Saudi Electricity Co (Seco) said.