Saudi Arabia sets $107m annual budget to build schools with private sector

Saudi Arabia’s Cabinet has approved a SAR400m ($106.59m) annual budget to build new schools in the kingdom in partnership with the private sector, reported GulfBusiness.

The plans follow the declaration a year ago that the kingdom would permit 100 % foreign ownership in the health and education parts.

Schools were additionally affirmed as a key part of a privatization plan reported in April. The Cabinet on Tuesday approved the “implementation of construction, maintenance and transference process” for schools.

Under the plans, 120 schools are to be worked with private segment accomplices in the fundamental areas of the kingdom over a period not exceeding 28 years.

"The Ministry of Education will close all agreements, notwithstanding concessions to renting instructive units in the fundamental areas of the kingdom for a period not surpassing 30 years, in any case that those assentions are finished up with land's advancement organizations or something else," Saudi Press Agency detailed. 

Specialists recently said in May they would handover 25 state-run schools to the private division.