Saudi Arabia has completed six public-private partnership deals in the past two ...
LONDON - Saudi Arabia has completed six public-private partnership deals in the past two months worth around $3.5 billion, and plans at least 23 more by 2022 despite some delays in its plan to engage the private sector, the head of its privatization body said.
“It’s better for the process to take a little bit longer to ensure it is done properly,” said Turki al-Hokail, CEO of the National Centre for Privatisation and Public-Private Partnership , which is overseeing the process, told Reuters after a visit to London to meet prospective investors. Twenty-three more such deals are planned for the water sector by 2022, among more than 40 public-private partnership deals and privatizations that are in the pipeline.Without commenting on the impact of Khashoggi’s death on foreign investment, Hokail said 50-70 percent of the companies involved in each of the six deals so far were foreign. Foreign banks had loaned 70-80 percent of the financing for each deal.
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