Saudis set for $11-billion asset selling blitz after a slow start

Saudi Arabia plans to complete the sale of four flour milling companies and Saudia Medical Services facilities this year

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 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.

“With the current status of the initiatives and the progress the privatisation Supervisory Committees are making, we see these as attainable targets,” according