Saudi to privatize important vital sector

SANAA, Aug. 16 (YPA) – The Saudi national water company declared on Thursday preparation to enter world companies as partners in the sector of disturbing and treating water, in the framework of plans set up toward the privatization of public institutions.

The company fixed 30 august as final date to apply, calling on the local and international companies to participate in ” Market survey” to measure investors’ interest to share, according to Reuters.

It is expected that the private sector will be responsible for capital expenditure and operational risk, thereby reducing the pressure on the public finances of the government for regular payments under long-term contracts.

The government hopes that such public-private partnerships in water, education and other areas of infrastructure will help revive foreign direct investment in Saudi Arabia, which fell to a 14-year low of $ 1.4 billion in 2017.

Ahmed Al-Mutawakel