A tender was recently issued for private companies by the education ministry in Saudi Arabia. This will aim to build at least 60 schools in the kingdom. The tender was issued by the government in an effort to ease pressure on the state’s finances.
Previously the government issued such projects out of its own pocket. However the current financial strains faced by the government have led it to look for private investors. This strategy to help out the government is part of the economic reforms announced in 2016 under which the kingdom would seek to use public-private partnership ( PPPs) to give responsibility for building and operating much of its infrastructure, including school and hospital buildings and airports, to local and foreign companies, creating tens of billions of dollars of business opportunities.
Tatweer Buildings Co (TBC) is a state-owned corporation that manages such projects. In its recent statement TBC said that the winning bidder would be awarded a long-term concession to design, build, finance and maintain facilities for 60 schools in Jeddah and Mecca, from kindergartens to secondary schools. It added that bidders are should express interest by Feb. 7. TBC also informed that it would soon hold a conference in Riyadh for property developers, investors and financial institutions, as well as legal and technical professionals.
The said tender is for a PPP in which a private firm or consortium would be paid to build and then operate facilities over a period. However after a period of time it would then finally be turned over to the state.
more recommended stories
‘Bus on demand’ service will be trialled in the Al Barsha and Al Warqaa
Dubai’s Roads and Transport Authority’s (RTA).
Ras Al Khaimah has obtained a Guinness World Record for the World’s Longest Zipline
Ras Al Khaimah has obtained a.
A total of 3.72 million UAE customers lost around $1.05 billion to cybercrime in the previous year
A total of 3.72 million UAE.
Investor pumps $57.5 million into exchange for Ripple purchases
Investor pumps $57.5 million into exchange.
Saudi travellers utilize hotel mobile apps more than their counterparts in other parts of the GCC
Hoteliers in Saudi Arabia require to.
Saudi Aramco’s trading unit began exchanging the kingdom’s crude oil for products refined in other countries
Saudi Aramco’s trading unit began exchanging.
Saudi Arabian government has started to award contracts for the growth of a large business area in the northwest of the country
The Saudi Arabian government has started.
Consumer concerns about the impact of value added tax (VAT) in the UAE are reducing
Consumer queries about the effect of.
Etihad Airways has dragged its five Airbus freighters from service
Etihad Airways on Wednesday stated that.
ITP Media Group titles will only carry Year of Zayed banners on their digital portals
ITP Media Group titles will only.