By IANS,
Dubai : This West Asian metropolis has committed 72 billion dirhams ($19.6 billion) to fund its utility projects being implemented this year and which are under construction.
The investments are in line with directives from Vice President and Prime Minister of the United Arab Emirates (UAE) Sheikh Mohammed Bin Rashid Al Maktoum in the face of soaring demand for electricity and water, the state-run Emirates News Agency (WAM) reported.
Saeed Mohamed Al Tayer, managing director and chief executive officer of Dubai Electricity and Water Authority (DEWA), said the budget would enable DEWA to implement some of its biggest projects.
According to him, Dubai has been able to meet the world’s highest demand growth rates in electricity and water – at 15 percent and 12 percent respectively – in recent years.
And this, Al Tayer said, would increase further due to the emirate’s ambitious projects.
By the end of 2007, the population of Dubai was 1.478 million, second only to Abu Dhabi (1.493 million) in the UAE.
According to recent figures released by the UAE’s Ministry of Economy, this is bound to change in the future with forecasts showing Dubai’s population increasing to 1.722 million by the end of 2009, while Abu Dhabi will go to second position with its population at 1.62 million.
Al-Tayer said DEWA has developed rationalisation plans and launched awareness campaigns, which were successful in preserving resources.