Emad K. Mukhalalaty, Managing Director of Altaaqa talks about energy sector, utilities and power infrastructure.
He says, "Saudi Arabia is fortunate to have a fast-growing population. However, this growth prompts a massive increase in the infrastructure. One of the basic requirements for any thriving economy is to have sufficient water and power supply. These will help in dealing with this rise in demand for consumption for personal and industrial use.
The power sector is growing rapidly, at the rate of 7.5% per annum, which is not easy to manage. Today, any power plant, that is just developing, will require 2 to 5 years for it to be ready for production. 50% of the population today is under the age of 20.
This pressurizes the government to deal with this massive growth. Today, Saudi Electricity and other power providers are working 24/7 to meet the demands. Whereas in other countries the demand might not be more than 2 to 3%, in Saudi on the other hand, we are dealing with a demand close to 7.5%, which is on the higher side."
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