Saudi Arabia’s National Center for Privatisation (NCP) has approved 200 development projects.
These cover 17 major sectors including transport and logistics, housing, tourism, industry, health, and education. In addition, details of about 140 projects have been made available to local and international investors.
As part of this, 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, retails space 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.
The highway will connect Asir and Jizan, with a length of 136 km, containing 6 intersections, 18 km of bridges, and a 9 km tunnels network. The project starts at (Al-Farah) in Asir to the Red Sea through Jazan.
It 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.
With this approval, the Saudi government aims to provide an opportunity for local and international investors to join these PPP projects and help develop infrastructure in the kingdom.
Minister of Finance, Chairman of the Board of Directors of NCP Mohammed bin Abdullah Al Jadaan, said these projects promise vast opportunities for local and international investors in line with the Kingdom’s Vision 2030, which is concerned with enhancing investment in the national economy and providing attractive investment opportunities for the private sector and increasing its contribution to the GDP.
