Power-Gen Seminar to Present Saudi Arabia’s $80 Billion Power Sector Expansion
The Power-Gen seminar will feature a panel that includes leaders from major private and public sector entities, outlining sector growth and discussing the numerous ways in which U.S. companies can take part in the Kingdom’s expanding industry. Panelists include:
- The Honorable James Smith; U.S. Ambassador to the Kingdom of Saudi Arabia
- Eng. Tariq Mohammad Al-Tahini; Executive Director of Power Generation Engineering and Projects at the Saudi Electricity Company
- Mr. Mousa Hamad Al Malik; Chief Executive Officer of Rakaa Holding Company
- Mr. Amer Kayani; Minister Counselor for Commercial Affairs at the U.S. Embassy in Riyadh, Saudi Arabia
- Edward Burton; President and Managing Director, U.S.-Saudi Arabian Business Council
The Kingdom’s expanding population, which stands at 27.1 million, is the largest in the Gulf region. In order to support its increasing population and industrial base, the Saudi Government has strategically mapped out a $400 billion investment program to diversify the country’s economy. The power generation sector is a key component of the government’s plan, as the demand for electricity expands by nearly 8 percent each year and is set to reach 60,000 megawatts (MW) by 2025.
In response to the long-term increase in electricity demand, the Saudi Electricity Company (SEC), the largest utility company in the Arab world, has planned an $80 billion industry upgrade for power generation facilities, substations, and transportation and distribution lines. The SEC has planned at least 34 power projects over the next eight years, ranging from 20-30 MW extensions to projects in excess of 1,600 MW. In total, the projects are designed to add more than 21,000 MW of capacity. Central to the expansion program are five independent power projects valued at $20 billion which will run through 2017.
The seminar is free and open to all attendees of Power-Gen International. The U.S.-Saudi Arabian Business Council will be exhibiting at booth #5246.
About the USSABC
The U.S.-Saudi Arabian Business Council (USSABC) is a non-profit organization that works to improve the mutual knowledge and understanding between the private sectors of the U.S and Saudi Arabia and promote and facilitate increased bilateral trade and investment. Established in December 1993, the USSABC has built a membership base of approximately 400 leading companies in the two countries and has assisted in the development of over $100 million in bilateral business deals. The USSABC organizes conferences and seminars in both countries to promote dialogue between the two private sectors and leads trade and investment missions to initiate new business opportunities and attract foreign investment in the Kingdom. The USSABC also offers a number of other business development services to help member and non-member companies identify potential business partners and develop market strategies for increased U.S.-Saudi Commercial ties. For more information on the Business Council, please visit www.us-sabc.org.
About the U.S. Commercial Service
The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service trade professionals in over 100 U.S. cities and in more than 75 countries help U.S. companies get started in exporting or increase sales to new global markets. For more information about the U.S. Commercial Service, please visit www.trade.gov.