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Saudi Arabia working on 160 privatisations, says finance minister -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Mohammed al-Jadaan, Saudi Minister of Finance, gestures during the Saudi Green Initiative Forum, which discussed efforts by Riyadh (Saudi Arabia), to combat climate change. October 23, 2021. REUTERS/Ahmed Yos

LONDON (Reuters] – Saudi Arabia’s Finance Minister Mohammed al-Jadaan announced on Thursday that 160 privatizations are underway and plans to announce additional next year.

He spoke at Riyadh’s financial forum and said that plans were being made to privatize assets in education and logistics.

Saudi Arabia has suspended privatization of Ras Al Khair power and desalination plant earlier this year. This was one of many state assets that the government wanted to sell in order to lower capital expenditure and diversify revenue away from oil.

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