Saudi Arabia said to privatize six water projects in 2019

Saudi Arabia is planning to tender or award six water-related projects next year as part of its privatization program, Bloomberg reported, citing a statement from National Center for Privatization (NCP).

One was awarded this week, three are in various stages of tender process and three more will be offered to investors next year, it said.

So far, more than 40 percent of the bids have come from international companies relying heavily on financing from international banks.

Total value of all public-private partnerships to be tendered by 2020 is expected to be SAR 24 billion to SAR 28 billion, according to NCP.

Saudi Arabia unveiled a major privatization program in 2016 as part of Crown Prince Mohammed bin Salman’s plan to raise government revenue and diversify from oil.

In addition to the water projects, the government plans in 2019 to move ahead on renewable energy projects in solar and wind, parking in Riyadh and a second cargo license station at King Khaled International Airport, according to NCP.