GCC utilities companies “face major challenge” for power and water

Utilities companies say GCC countries will need an extra 290 million gallons of water and 80,000mw of power per day by 2015 to meet demand from an increasing population and new infrastructure projects.

DUBAI // GCC countries will need an extra 290 million gallons of water and 80,000 megawatts of power per day by 2015 to meet demand from an increasing population and new infrastructure projects.

The estimates are from regional utilities companies, and will be among the issues raised during a conference of Middle Eastern government authorities and private sector companies this month.

“As the region explores ways of supplying the high demand for both power and water, private utilities companies in the region are faced with a major challenge – obtaining finance and funds for new projects,” said Richard Menezes, managing director of Utico Middle East.

“As with the rest of the world, regional utility companies struggle with finding the right contract with the right terms and right financiers, while debating the right tariffs and policies.”

The three-day conference will discuss the challenges, issues and opportunities in the independent power and water sector in the Arabian Gulf region.

“By bringing both private and public-sector enterprises under one roof, we can chalk out a strategy that can lead the utilities sector to a better future,” said Martin Valovsky, chief executive of Fleming Gulf, the conference organisers.