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Saudi suspended world s largest desalination and power plant privatization due to pandemic -- official

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Saudi Arabia seeks to speed privatisations to help ease deficit

Saudi Arabia seeks to speed privatisations to help ease deficit 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP Saudi Arabia seeks to speed privatisations to help ease deficit Saudi Arabia raised $800m from the recent sale of two flour mills, which followed two other mill sales of $740m last year April 22, 2021 Saudi Arabia is hoping to speed up privatisations to narrow a budget deficit that ballooned last year due to the pandemic and a slump in oil revenue. The kingdom aims to strike around SAR15bn ($4bn) worth of infrastructure deals with private investors this year, the head of the National Center for Privatisation, Rayyan Nagadi, said in an interview. That would be the most since the body was established to accelerate privatisations 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 Seeks to Speed Privatizations to Help Ease Deficit

(Bloomberg) Saudi Arabia is hoping to speed up privatizations to narrow a budget deficit that ballooned last year due to the pandemic and a slump in oil revenue.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.Progress on Saudi Arabia’s privatization plan has been much slower than anticipated when Crown Prince Mohammed Bin Salman launched his economic transformation plan in 2016 and outlined plans to sell stakes in utilities, soccer clubs, flour mills and medical facilities. Since then the government has managed to sell stakes in assets including Saudi Aramco and flour mills. It has also signed deals wit

Saudi Arabia aims for $4bn in infrastructure deals this year

Saudi Arabia aims for $4bn in infrastructure deals this year
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