Saudi Arabia reveals the state assets it will sell

The government of Saudi Arabia has revealed more details of its privatisation programme including some of the assets to be sold.

The National Center for Privatization (NCP), the body responsible for implementing the state sell-off, said the kingdom is aiming to increase the private sector’s contribution to gross domestic product from 40% to 65% by 2030.

The NCP estimates that the privatisation project will raise roughly $10 billion through the sale of state assets by 2020, including the Das Al-Khair water desalination plant, which is expected to raise a large share of the funds. Other assets likely to be included in the programme include sports clubs, ports, hospitals and schools.

The announcement came after the Council of Economic and Development Affairs approved the proposals, which are part of Saudi Arabia’s Vision 2030 initiative that is designed to reduce the kingdom’s oil dependency.

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