Saudi Arabia To Offer 6 Water-Related Projects For Investment

Saudi Arabia’s Cabinet approved on Tuesday the offering of six water projects for investment, the official Saudi Press Agency (SPA) reported.

Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatization programme that got off to a slow start, said a report.

One was awarded this week, while three are in various stages of tender process and three more will be offered to investors next year, stated the report citing the government’s National Center for Privatization and PPP.

So far, more than 40 per cent of the bids have come from international companies relying heavily on financing from international banks, said the report.

In addition to the water projects, the government plans in 2019 to move ahead on renewable energy projects in solar and wind, parking in Riyadh and a second cargo licence station at King Khaled International Airport, it added.

 

Source Credit: Trade Arabia