FILE PHOTO: Saudi Arabias Crown Prince Mohammed bin Salman attends a graduation ceremony for the 95th batch of cadets from the King Faisal Air Academy in Riyadh, Saudi Arabia December 23, 2018. Picture taken December 23, 2018. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY./File Photo
RIYADH: Saudi Arabia could be in for a busy year of asset sales if the kingdom sticks to its plans.
The government hopes to generate about US$11bil by 2020 through its privatisation programme that includes the sale of stakes in utilities, soccer clubs, flour mills and medical facilities. The sales are key to the country’s efforts to wean the economy off oil, but so far have been dogged by delays – most notably the IPO of oil giant Aramco.
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