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Saudia Arabia is on the verge to amass trillion-dollar regional investment splurge!

The energy sector in the Middle East and North Africa will amass almost $1 trillion in investment over the next five years, as countries build out energy capabilities and pivot to renewables, according to new research.

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank with around $7 billion in total assets, provides an annual estimate for both planned and committed investments for 2019 to 2023.

Saudi Arabia has the largest committed and planned investments in the medium term, worth more than $140 billion, as it looks to make renewable and possibly nuclear energy a bigger component of its supply mix.

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