Asean to need huge investments
Bangkok Post, 9 June, 2004
Manila , AFP
Asean countries will need as much as US$461 billion in investments in the energy sector from 2001 to 2020 to sustain economic growth, the Asean Centre for Energy said yesterday.
Speaking at a business conference, being held parallel to an Asean ministerial forum on energy, executive director Guillermo Blace said that energy consumption in Asean would rise to about 583 million tones of oil equipment (MTOE) in 2020 from 280 MTOE in 2000.
The largest investment, or about $323 billion, would be needed in the electricity sector, Mr. Blace said.
"If you really want to invest in South-east Asia , invest in electricity because most of the findings (for demand) are in electricity," he told businessmen at the Asean energy forum.
Among the 10 Asean members, Indonesia would require the most investment, ranging from $110-155 billion, he said.
Thailand was second with about $74-103 billion, he added.
Mr. Balce, who is the executive director of the Jakarta-based study group, said that the estimates were based on expectations that economic growth would continue to improve.
Ong Keng Yong secretary-general of Asean, said that the region would need $100 billion in investment in energy from 2005 to 2010. Some $7 billion would be needed to develop the natural gas potential of the region, Mr. Ong added.
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