Saudi Arabia to export power in 5 years
Jan 18, 2009 - MENAFN
(MENAFN - Arab News) Saudi Arabia will
start exporting power to the rest of the Gulf Cooperation
Council (GCC) in the next five years, according to
a power expert.
Delivering his keynote address on "Recent trends in
power and water supply," Paddy Padmanathan, CEO and
president of ACWA Power International, a private power
consultant and developer, told a technical seminar
organized by Institution of Engineers Pakistan — Saudi
Arabian Center (IEP-SAC) in Riyadh on Thursday that
both power and water now remained essential commodities
like rice and wheat.
He laid out the Kingdom's vision for addressing the
next generation needs for power and focused his lecture
on the initiatives of the Kingdom vis-à-vis creation
of the culture of "private power and water" projects.
He added that change was coming in the Kingdom, like
elsewhere internationally, and that the rational for
change remained supreme. According to him, government
by definition is structured to govern, make policies,
create a level playing field, and to regulate and
monitor only. "The private sector on the other hand
is geared to produce goods and services efficiently.
It adopts a more rigorous approach to understanding
and managing risks. And, that the ownership and the
profit (and/or loss) associated with it provides a
significant impetus and incentive to deliver," he
added.
According to him, till 2004 power and water in the
Kingdom were provided by essentially four government-owned
entities — bulk water produced by Saline Water Conversion
Company (SWCC) which also co-generates power and sells
to Saudi Electric Company (SEC); Electricity by SEC;
Aramco produces its own power and water; and Marafiq
also produces its own power and water (in addition
to purchasing the same from SEC and SWCC) for its
two industrial cities.
Pakistan Ambassador Shahid Karimullah, speaking as
the chief guest, appreciated the efforts of IEP-SAC
in promoting engineering professional culture among
the Pakistanis in the Kingdom. He also appreciated
the initiatives of IEP-SAC in providing scholarships
to the needy students for pursuing their engineering
education in Pakistan.
IEP-SAC's Chairman Masood Khan, incoming General Secretary
(GS) Mubashar Kirmani and outgoing GS Dr. Nazar Malik
also spoke.
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