Arabian Business reported that a total of 44 power and water projects are being built or set to start in 2012 in the GCC valued at nearly USD 32 billion.

According to a study by Ventures Middle East, the UAE leads the way with 11 projects valued at USD 10 billion including the USD 800 million Hassyan 1 Independent Power Plant where construction is slated to begin next year.

The research said that Saudi Arabia also has 11 new projects underway or due to start in 2012 valued at USD 8.6 billion. In Kuwait, ten projects are underway valued at USD 3.4 billion 7 of which will begin construction in 2012.

Bahrain has three projects valued at USD 4.1 billion including the independent water and power plant in Al Dur, which has been ongoing since 2008.

Ventures said that Qatar has three projects valued at USD 3.3 billion while Oman has 6 projects valued at USD 2.5 billion all of which will begin construction in 2012.

Mr Abdulla Saif Al Nuaimi DG of Abu Dhabi Water and Electricity Authority said that "The power sector in the GCC region has seen exponential growth ranging from 10% to 15% annually in many of its member states with demand for electrical power to triple over the next 25 years. Similarly, the water industry is expected to be worth USD 70 billion over the next 10 years.”

Mr Anita Mathews exhibition director for Power + Water Middle East said that "The latest developments in the power and water sectors of the GCC countries underline the fact that the region is not only one of the fastest growing but also holds the most potential of global electricity markets."

(Sourced from www.arabianbusiness.com)