A rapid growing electricity demand while lagging supply will lead to long-term power shortages in the Middle East and North Africa region. According to an official research report of Arab, during 2015-2019 carbohydrate manufacturers in the Gulf need nearly $121 billion (equivalent to about RMB 757.42 billion) in the electricity investment to build new power plants and expand existing facilities, to cope with electricity demand growth.
The amount of investment by 6-nation Gulf Cooperation Council accounts for more than 1/3 of the total costs of the power projects in the Middle East and North Africa region, or about $316 billion (equivalent to RMB 1.97807 trillion) .
Made by Arab Petroleum Investments Corporation, the research report estimates that Mashrek region needs $92.1 billion (equivalent to about RMB 576.52 billion) in the electricity investment. The region includes Egypt, Israel, Palestine, Jordan, Syria, Lebanon and Turkey.
Maghrib region, which covers Algeria, Tunisia, Morocco, Libya and Mauritania, demands an electricity investment at $40 billion (equivalent to about RMB 250.39 billion). The remaining Arab countries need $3.3 billion (equivalent to about RMB 20.66 billion) of investment, while Iran needs nearly $59.6 billion (equivalent to about RMB 373.08 billion).
The report points out that, the electricity investment in the Gulf includes $75.9 billion (equivalent to RMB 475.11 billion) needed in power generation, $15.5 billion (equivalent to RMB 97.03 billion) needed in power transmission, and $29.6 billion (equivalent to RMB 185.29 billion) needed in power distribution.
Note: This article uses the exchange rate where $1 = RMB 6.2495
