Saudi privatization program to offer opportunities, support PPP projects in 2021: Finance Ministry

The Saudi privatization program aims to continue to launch initiatives and provide opportunities to support local and international public-private partnership (PPP) projects in 2021, the Ministry of Finance said in its pre-budget statement.

Among the main initiatives are projects that are fully funded by the private sector in healthcare, in addition to attracting private investments to finance and develop educational buildings through PPPs.

The initiatives also include several privatization projects in the sectors, including environment, water and agriculture sectors; municipalities; and telecom and information technology.

In 2020, the first phase of privatizing the flour milling sector was completed, which included selling all shares of the first and third companies of the four milling companies to strategic private investors. The second phase of selling assets of the second and fourth companies is underway.

This is in addition to the completion of the offering of the second cargo terminal project at King Khalid International Airport in Riyadh and King Abdulaziz Port in Dammam to international investors.

In the water sector, the awarding of contracts for construction and operation of two projects in Yanbu and Jubail, for a period of 25 years, have been completed.