Finance ministry inks deals to fund 17 projects worth SAR 756 mln

Saudi Arabia’s Ministry of Finance signed on Tuesday new agreements for financing 17 health, education and hotel projects, at a total value of SAR 755.8 million and total investments of SAR 1.5 billion.

The deal was inked by Tariq Alshuhayeb, the deputy minister for revenues at the Ministry of Finance, in the presence of a number of project owners and officials from various ministries and government bodies.

Alshuhayeb highlighted that the agreements include establishing eight health projects at a total value of SAR 407.8 million, distributed over Riyadh, Damam, Jeddah, Abha, Abu `Arish and Buraydah.

Additionally, eight education projects will be established at a total value of SAR 340.7 million, distributed over Riyadh, Madina, Jeddah, and Damam, in addition to a 3-star hotel project in Jizan on an estimated area if 4,956 square meters.

The ministry pointed that these deals are continuation for previously signed agreements in 2018, so that the number of projects that have been financed would reach 29 at a total value of SAR 1.6 billion and total investments of SAR 3.7 billion, distributed over 14 cities across the Kingdom.

In March, the ministry inked deals to finance 12 health, education and hotel projects at total value of SAR 851 million, according to data compiled by Argaam.

These agreements were a part of the framework put for improving basic services offered to the citizens.