Saudi Arabia’s National Center for Privatization (NCP) has approved 200 development projects, covering 17 major sectors including transport and logistics, housing, tourism, industry, health and education.
Of these public-private-partnership (PPP) projects, details of about 140 projects have been made available to local and international investors.
With this approval, the Saudi government aims to provide an opportunity for local and international investors to participate in these PPP projects and help develop infrastructure in the kingdom.
As part of these project, around 4,500 km of modern roads will be built across the kingdom as well as parking lots in Al Olaya. Also, plots of land owned by the municipalities in Al Khobar, Makkah, Madinah will be developed for entertainment, retail, tourism and other activities.
Under the Ministry of Logistics and Transport, the projects that have been given the go-ahead are the development of major highways linking Jazan to Azir and another to Jeddah; as well as one from Yanbu to Jubail and another from Makkah to Jeddah. Among the largest of these are the 570-km Jeddah to Jazan Highway and the 447-km Yanbu to Jubail Highway.
The projects will also see the privatisation and expansion of some of the major airports in the kingdom including Abha; Hail; Taif; and Prince Naif Airport in Al Qassim.
CEO Muhannad bin Ahmed Basudan said the Ministry of Investment plays a vital role as partner and enabler in the process of marketing and attracting investors. “The kingdom has the largest series of privatisation projects in the region, which include various qualitative investments, and these are made available in advance to give investors the opportunity to prepare well before their offering,” stated Basudan.
“The first quarter of 2023 witnessed the signing of contracts for projects in the transport sector, including Spanish-Saudi, and Chinese-Saudi alliances,” he added.