Power grid brings GCC economies closer
Tuesday, May 03, 2011
His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai inaugurated the second phase of the GCC interconnection power grid on 20th April 2011.
This is the second phase of the three phase project to link the power grids of the GCC countries.
The move will create a common energy market and the sustainable supplies of power will help the GCC economies to continue to grow.
The present demand for electrical power in the GCC countries is approximately 70 gigawatts, however this is expected to triple over the next 25 years.
The project is estimated to cost US$1.4 billion with the UAE contributing US$218 million.
Source: iir me
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