Saudi to pump SR134bn into water, power in 2014.

Saudi Arabia is planning to invest nearly SR134 billion in water and electricity projects in 2014 to face a rapid rise in domestic demand, the Gulf kingdom's water and electricity minister has said.

Abdul Rahman Al Hussein said the investments include SR100 billion for power projects and SR34 billion ($9billion) for water.

He also said the world's largest oil exporter is pushing ahead with plans to 'fragment' the giant government-controlled Saudi electricity company (STC) into four firms to cope with the new projects and the surge in power demand.

Emirates 24/7