Saudi Arabia said to privatize 146 state assets

Saudi Arabia has identified around 146 state-owned assets that could be privatized and sold to the public as the kingdom aims to monetize its assets and shore up revenue as oil prices remain lower, MEED has reported, citing an unnamed source close to the matter.

The asset list, which was reportedly drafted by the Ministry of Economy and Planning, would include government-related entities and subsidiaries of ministries. The government will be selling stake to private investors and/or offer shares in these organizations through Initial Public Offerings (IPO), the source said.

Final names of planned privatization of state assets are still under consideration. The plan is part of a broader move, the National Transformation Plan, which will outline spending plans for projects, government expenditure cuts, list of entities to be privatized, and timelines for sale of these resources, including Saudi Aramco’s assets.