Saudis Set for $11 Billion Asset-Sale Blitz After Slow Start
- Aramco share sale is now slated for 2021 after initial delay
- Tenders for projects in water, renewable energy up for grabs
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
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 $11 billion by 2020 through its privatization program 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.