For Sale: Saudi public assets privatisation to raise near $200 bln - Zawya Projects

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For Sale: Saudi public assets privatisation to raise near $200 bln

For Sale: Saudi public assets privatisation to raise near $200 bln Photo Credit:shutterstock
The entities offered for privatisation include various sectors such asĀ  education, healthcare, commodities, utilities, and airports.
18 May 2017

While all eyes are focused on Saudi Arabia’s sale deal of the century of its giant state energy firm Aramco expected to take place next year, the kingdom is moving forward with one of the world's largest privatisation program.

Despite investors' worries on low fees and an uncertain regulatory environment, Saudi Arabia, the Arab world's biggest economy, managed to draw the interest of foreign investment banks and private equities to an array of public entities.

The entities offered for privatisation include various sectors such as  education, healthcare, commodities, utilities, and airports.

The privatisation plan is part of a wider economic reform strategy adopted by the kingdom to counter the sharp fall of oil prices that started in mid-2014.

Saudi Arabia, the world's top oil exporter, reported a record budget deficit of $98 billion in 2015.

The government plans to sell off around $200 billion worth of assets on top of a stake in oil giant Saudi Aramco, according to Reuters.

Following is a list of major privatisation plans currently underway.