The Saudi Electricity Co. (SEC) will have capital expenditure needs of nearly $ 10 billion next year, a senior executive said yesterday, and the utility may tap debt markets to raise some of the funds.
The Gulf’s largest utility, the SEC has a SR 452 billion ($ 120.5 billion), 10-year investment plan as it speeds up delivery of its power projects to meet state infrastructure demands.
“Our capex requirement for 2013 is close to $ 10 billion, and the majority will be covered from internal sources,” Manish Manchandya, a corporate finance executive at SEC, told Reuters on the sidelines of a treasury conference.
Manchandya said a projected gap of about $1 billion to $ 2 billion would be covered by government funding and other means, including possibly debt markets.
Manchandya said the SEC had no plans to tap debt markets this year, but stated: “In future, we plan to be an active player in capital markets both locally and internationally. The local market continues to be very liquid.”
The SEC plans to spend around $35 billion on high voltage power lines, with another $25 billion spent on distribution networks over the next 10 years.
It has an installed capacity of 54,000 megawatts and will add around 4,000 MW over the next 12 months to help meet rising demand, with another 8,000 MW to be added in 2014.
SEC set for $ 10 bn expenditure
SEC set for $ 10 bn expenditure
Program to train experts in forest rehabilitation
- Forest Ambassadors program is one of several specialized training initiatives designed to equip forestry personnel, relevant authorities, and university students
- Program focuses on providing trainees with advanced scientific knowledge and skills in fieldwork, data management, and technical report writing
RIYADH: The National Center for Vegetation Cover Development and Combating Desertification continues to strengthen national capabilities to implement environmental initiatives requiring advanced technical skills and scientific expertise in assessing and rehabilitating vegetation resources.
The Forest Ambassadors program is one of several specialized training initiatives designed to equip forestry personnel, relevant authorities, and university students with the knowledge and skills to conduct vegetation inventories, assessments, and prepare technical plans for rehabilitating degraded forest areas.
The program offers a mix of theoretical and practical training, including presentations, educational modules, group discussions, and case studies, according to the Saudi Press Agency.
These components enable participants to conduct vegetation inventories and assessments, identify degradation, determine rehabilitation needs, and develop technical forest management plans.
The program focuses on providing trainees with advanced scientific knowledge and skills in fieldwork, data management, and technical report writing, the SPA reported.
It serves as a model for building highly qualified national cadres capable of applying best scientific practices in forest management and rehabilitation, contributing to the protection of natural resources, advancing the Saudi Green Initiative, and supporting the long-term sustainability of the Kingdom’s vegetation cover.
