Saudi Arabia approves 200 major PPP development projects
RIYADH
SHARE
Saudi Arabia's National Center for Privatization (NCP) has approved 200 development projects, covering 17 major sectors including transport and logistics, housing, tourism, industry, health and education.
Of these Public-Private-Partnership (PPP) projects, details of about 140 projects have been made available to local and international investors.
With this approval, the Saudi government aims to provide an opportunity for local and international investors to join these PPP projects and help develop infrastructure in the kingdom.
As part of this, around 4,500 km of modern roads will be built across the kingdom as well as parking lots in Al Olaya.
Also, plots of land owned by the municipalities in Al Khobar, Makkah, Madinah will be developed for entertainment, retails space tourism and other activities.
Under the Ministry of Logistics and Transport, the projects that have been given the go-ahead are the development of major highways linking Jazan to Azir and another to Jeddah as well as one from Yanbu to Jubail and another from Makkah to Jeddah. Among the largest of these are the 570-km Jeddah to Jazan Highway and the 447-km Yanbu to Jubail Highway.
It will also see the privatisation and expansion of some of the major airports in the kingdom including
Abha; Hail; Taif; and Prince Naif Airport in Al Qassim.
Minister of Finance, Chairman of the Board of Directors of NCP Mohammed bin Abdullah Al Jadaan, said these projects promise vast opportunities for local and international investors in line with the Kingdom's Vision 2030, which is concerned with enhancing investment in the national economy and providing attractive investment opportunities for the private sector and increasing its contribution to the GDP.
CEO Muhannad bin Ahmed Basudan said the Ministry of Investment plays a vital role as partner and enabler in the process of marketing and attracting investors.
"The kingdom has the largest series of privatization projects in the region, which include various qualitative investments, and these are made available in advance to give investors the opportunity to prepare well in advance before their offering," stated Basudan.
"The first quarter of 2023 witnessed the signing of contracts for projects in the transport sector, including Spanish-Saudi, and Chinese-Saudi alliances.There is a diversity of operations to attract foreign investors and available projects," he added.-TradeArabia News Service
