SAGIA to privatize Saudia's medical unit, flour mills in 2019

17/06/2019 Argaam

 

Saudi Arabian General Investment Authority (SAGIA) will float the shares of Saudi Airlines Medical Services Co. in Q2 2019 as part of its privatization program, the authority said in its quarterly report.

 

Flour mills are likely to be privatized in the third quarter of 2019.

 

Saudi Arabia is also expected to enter into agreements with the private sector to build, own, operate, and transfer educational buildings in Q1 2020.

 

In Q1 2019, six public-private partnerships (PPP) agreements have been awarded at a value of over $3.5 billion, SAGIA added.

 

The Kingdom aims to implement 23 privatization initiatives by the end of 2020 and 100 by 2030, Argaam earlier reported.

 

It seeks to generate SAR 35 billion to SAR 40 billion in non-oil revenues from its privatization program by 2020 and to create up to 12,000 jobs, the Saudi Press Agency said in April.

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