Saudi Arabia targets $64bn in privatisation plan
- Seeks to fund large-scale projects
- Widens public-private partnership to 18 sectors
- Plans include 13 strategic water reservoirs
Saudi Arabia has unveiled a new national privatisation strategy, seeking to raise $64 billion in private capital investments by 2030 to fund large-scale projects.
The plan supports the expansion of a public-private partnership (PPP) initiative to 18 sectors and the creation of thousands of jobs, the National Center for Privatization & PPP (NCP) said in a statement.
The new strategy marks a transition from foundation to execution and will offer more than 220 opportunities to the private sector.
The PPP projects include building 13 strategic water reservoirs, the Saudi Land Bridge, and Abha International Airport.
The privatisation programme has achieved several milestones, most notably the establishment of NCP, which has developed more than 200 approved projects with investment reaching $213 billion, state-run Saudi Press Agency reported, quoting finance minister and NCP chairman Mohammed Aljadaan.
NCP was established in 2017 as part of the kingdom’s Vision 2030 plans to encourage foreign and local investment in the country.
Earlier this month, economy minister Faisal Al-Ibrahim said the kingdom was handing over the scope of some Vision 2030 projects to the private sector as it adjusts timelines to avoid economic overheating.
The government was being “agile” in managing its ambitious development pipeline, rescoping some projects, he told Reuters.
The Saudi government and state-owned entities have been active in debt markets this year, raising $22 billion in January alone to back its Vision 2030 projects.
The kingdom has raised $11.5 billion through a four-part bond offering under its global medium-term note issuance programme. Oil giant Saudi Aramco also raised $4 billion from a bond sale that was oversubscribed five times.
Further reading:
- Saudi Arabia bets on capital markets as foreign ownership limits fall
- Saudi Arabia’s policy trilemma: Oil, debt and deficits in 2026
- Giga-guide 1: paying the bills for Vision 2030
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