Saudi needs more investment in power, water supply

A new report by Banque Saudi Fransi says the kingdom needs to raise its investments in its power and water supply industries by a third to at least 1 trillion riyals ($266.7bn) through 2025, to meet rising domestic demand, Reuters has reported. Saudi Arabia is expected to spend SR300bn alone on power generation, SR200bn on water desalination projects and SR200bn on sewerage, the bank said. 'In our perspective, this SR700bn is certainly a step in the right direction - but at least a third more in funding would be required to bolster capacity in a way that comfortably cushions demand,' the bank's report added.