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  • Saudi Arabia Evaluates 300 Projects for Potential Privatization

    The Minister of Finance noted that the Kingdom’s privatization program was moving at an accelerated pace, and currently covered 200 projects in 17 sectors, with investments exceeding $50 billion. He also unveiled ongoing work to evaluate 300 projects within the privatization program, pointing that Saudi Arabia has far completed 30 projects over the past five years.

  • Saudi Arabia Aims to Restart Privatization Plan for 29 Airports

    Ownership of the 29 airports has already been moved to a new entity, Matarat, in order to prepare them for the process, Abdulaziz Al Duailej, president of the General Authority of Civil Aviation, said in an interview Monday. An international investor roadshow could start in the next 12 to 18 months.

  • How Saudi Arabia is forging ahead with its privatization drive

    To finance Saudi Arabia’s privatization and economic diversification programs, the PIF must free up capital. To this end, it sold a 30% stake in Tadawul for 3.78B SAR (1B USD), and an 11.1% stake in ACWA power for 4.55B SAR (1.21B USD). These sales and that of STC would raise a total of around 5.4B USD for the PIF to reinvest in the Kingdom’s target sectors including manufacturing, tourism, and renewable energy.

  • Saudi Arabia Seeks to Accelerate Health Sector Privatization

    The King Faisal Specialist Hospital and Research Center, which started its operation in 1975, is one of the most important Saudi institutions that provide the highest level of specialized health care in an integrated educational and research environment. The hospital is the first center outside the United States accredited by the Society of Pediatric Oncology, which is one of the most prominent medical institutions in this field at the global level.

  • Saudi Arabia Targets Raising $55 Billion From Privatization Plan

    Mohammed Al-Jadaan said the Kingdom had recently announced a privatization plan that includes identifying 160 projects in 16 sectors, including asset sales and public-private partnerships. “Our goal is to secure about $55 billion from the privatization plan, of which $16.5 billion will be in public-private partnerships.”

  • After the flour mills, Saudi Arabia said to mull grain silo privatizations

    Saudi Arabia, one of the world’s biggest buyers of wheat and barley, is preparing to sell some of its grain silos, Bloomberg reported. State-owned Saudi Grains Organization aims to start selling silo sites as soon as this year, according to people familiar with the matter. SAGO will seek bids from foreign and local firms, said the people. No decisions have been made and SAGO may retain the assets, they said.

  • Oman Explores Cement Stake Sale in Privatization Drive: Sources

    Oman is considering the sale of its stake in Oman Cement Co. SAOG, according to people with knowledge of the matter, as Gulf nations increasingly lean on state assets to bolster their finances. The sultanate is speaking to advisers about selling its nearly 54% holding in the company, according to the people, who asked not to be identified because the information is private. The stake could be worth just over $100 million based on its current market price.

  • Saudi Arabia to Speed Privatizations to Ease Budget Deficit

    The kingdom aims to strike around 15 billion riyals ($4 billion) worth of infrastructure deals with private investors this year, the head of the National Center for Privatization, Rayyan Nagadi, said in an interview. That would be the most since the body was established to accelerate privatizations in 2017. It also aims to complete several asset sales this year, he said, declining to give a value for how much could be raised.

  • Saudi Arabia targets 60 schools, 15 sectors as cabinet approves privatization drive

    The education sector together with utilities, health and transportation form the focus of current privatization efforts, he said. It comes after the Saudi Council of Ministers on Tuesday approved privatization plans for 16 sectors of the economy.

  • Saudi Saline Water Corp Governor: Accelerated Privatization Aims to Attract Investors

    “The Supervisory Committee for Privatization of the Environment, Water, and Agriculture Sector has approved the model for privatizing the corporation by separating production assets from transportation,” said Abdul Karim, adding that the scheme was also given the green light by the Council of Ministers. Founding the Water Transmission and Technologies Co. (WTTCO) was a key step in developing the Kingdom’s water sector and enhancing its contribution to social and economic progress, noted the governor.