Saudi privatization terms to be set case-by-case, says Al Tuwaijri

The Saudi government will determine terms of ownership for the coming wave of state privatizations "one by one", Reuters reported, citing Mohammed Al Tuwaijri, deputy minister of economy and planning.

"We'll have separate laws for each sector, then will deal with them based on private-sector appetite and market conditions at the point of time," Tuwaijri said, speaking on the sidelines of US President Donald Trump’s Saudi visit.

Saudi Arabia is preparing to privatize 16 government entities and launch over 100 public-private partnerships in sectors including sports, electricity and healthcare.

The privatization drive is part of wider fiscal reforms in the Kingdom in the wake of tumbling oil prices. The process is expected to raise more than $200 billion.

The Kingdom is keen to attract private equity for the process, but is yet to clarify its position on the size or terms for stakes it will sell in state-owned companies.