Saudi privatization plan initially targets sports clubs, silos: NCP

26/04/2018 Argaam

 

Saudi Arabia’s privatization program will target various services across the ten sectors defined by the newly-released government document, Turki Al-Hokail, chief executive of the National Center for Privatization & PPP (NCP), told Al-Arabiya TV on Wednesday.

 

The first phase of the scheme targets the medical center of Saudi Arabian Airlines (Saudia) and four grain silos through asset sell-offs.

 

The privatization initiatives will also include Saudi Premier league clubs as well as the production sector of Saline Water Conversion Corporation and the international airports company.

 

The remaining sectors will be privatized under public-private partnerships, Al-Hokail added.

 

The Council of Economic and Development Affairs, headed by Crown Prince Mohammad Bin Salman, approved on Tuesday the executive plan for the Kingdom’s Privatization Program, Argaam reported.

 

Riyadh plans to sell five state assets and initiate 14 PPP investments worth between SAR 24 billion and SAR 28 billion, according to a government document.

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