Saudi Arabia working on 160 privatisations, says finance minister

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FILE PHOTO: Saudi Green Initiative Forum in Riyadh

LONDON – Saudi Arabia is working on 160 privatisations and intends to announce more next year, Finance Minister Mohammed al-Jadaan said on Thursday.

Speaking at a financial forum in Riyadh, he said plans to privatise assets in the education and logistics sectors were ongoing.

Earlier this year Saudi Arabia suspended the privatisation of the Ras Al Khair desalination and power plant, one of a number of state assets the government aimed to sell to reduce pressure on capital spending and diversify revenues away from oil.

(Reporting by Aziz El Yaakoubi; Writing by Davide Barbuscia; Editing by David Goodman)