Top oil exporter Saudi Arabia needs to invest about $150 billion in electricity over the next ten years to meet rising domestic demand, the country's water and electricity minister Abdullah al-Hussayen Wednesday.

Demand for electricity is seen rising by about 7% annually, Mr. Hussayen told reporters in Abu Dhabi .

Mr. Hussayen said in November that the kingdom will need to invest 500 billion Saudi riyals [$133.3 billion] in electricity over the next 10 years.

Power consumption in the member of the Organization of the Petroleum Exporting Countries could surge to 90,000 megawatts in 10 years from the current 52,000 megawatts, he has said.
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