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Saudi Arabia aims to raise $55bn by 2025 through privatization program


RIYADH: Saudi Arabia is seeking to raise about $55 billion over the next four years through its privatization program as it looks to reduce its budget deficit, according to Saudi Finance Minister Mohammed Al-Jadaan.
Al-Jadaan expects to raise $38 billion through asset sales and $16.5 billion through public-private partnerships, he told the Financial Times, Al Arabiya reported.
The Saudi government has identified 160 projects in 16 sectors, including asset sales and public-private partnerships through 2025.
Asset sales shall include government-owned hotels, television broadcasting towers, and cooling and water desalination plants.
The plan does not include the Public Investment Fund (PIF) entities or the sale of other assets of Saudi Aramco. ....

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