Saudi privatization program targets $11 billion non-oil revenues by 2020

Saudi privatization program targets $11 billion non-oil revenues by 2020:

"Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from its privatization program by 2020 and create up to 12,000 jobs, according to a document published by the official Saudi Press Agency on Tuesday.

The initiative targets 14 public-private partnership (PPP) investments worth 24 billion to 28 billion riyals. It includes the corporatization of Saudi ports and the privatization of the production sector at the Saudi Saline Water Conversion Corp (SWCC) and the Ras Al Khair desalination and power plant, the document showed.

The government has said it plans to raise about $200 billion through privatization in coming years as part of “Vision 2030” reforms that aim to transform the economy of the world’s top oil exporter. It separately wants to raise another $100 billion through the sale of a five percent stake in Saudi Aramco IPO-ARMO.SE."



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