Eng. Ali Al-Barak, the Executive President of the Saudi Electricity Company (SEC), shed light on his company's plans to expand the power sector in the Kingdom over the coming decade. Addressing the Saudi U.S. Business Council during a meeting in this U.S. city of Chicago, Al-Barak said before representatives of more than 500 U.S. specialized power companies that the Kingdom's growth in the sector of electricity is expected to grow by high rates of not less than 6 to 7 percent over the coming decade. SEC is planning to generate more than 30,000 additional megawatt over the period from 2010 to 2020, with 20 power generation projects expected to be established, representing 70 percent of the current capacity and with investments amounting to $50 billion, 30 percent of which will go to independent investors, he said. Al-Barak added that the company has appropriated some $24 billion for building power networks and transfer facilities to cover all parts of the country over the coming ten years. On the future of nuclear energy for peaceful purposes in the Kingdom, he confirmed that the Kingdom is seriously going ahead for that end, citing the directives of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud to set up King Abdullah City for Nuclear and Renewable Energy for Peaceful Purposes. He concluded that his company enjoys the state's support to carry out its plans including opening the door wide for competitiveness among all eligible companies from inside and outside the Kingdom to pave the way for best prices and high quality performance.
