Saudi Arabia’s PPP unit starts operations

23/03/2017 Argaam

Saudi Arabia’s National Centre for Privatization (NCP) has reportedly started operations, MEED said on Thursday, citing unnamed sources.

 

NCP was established to implement the kingdom’s ambitious plans for public-private partnership (PPP) projects and increase the private sector participation (PSP) in state projects.

 

The NCP will directly report to the kingdom’s minister of economy.

 

In December, Saudi Arabia’s finance ministry said in the 2017 budget announcement that NCP was established to identify the strategies, regulations, and organizational frameworks of privatization plans and PPP projects in various sectors, such as public utilities, sports, health, education, transport and municipal services.

 

Under the privatization drive, the kingdom said it will complete the privatization of 27 Saudi airports by mid-2018 along with some government agencies, Argaam earlier reported.

 

State-owned utility Saudi Electricity Co. (SEC) will proceed with privatizing assets and be split into several firms, as per an agreement signed with the Saudi Electricity and Cogeneration Regulatory Authority (ECRA).

 

In addition, the Saudi Cabinet had recently approved plans to privatize football clubs in the top Saudi Premier League division.

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