Saudi to invite bids for 1,500 schools

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Saudi Arabia intends to invite bids for the construction of 1,500 schools at a total cost of Saudi riyals 20 billion ($5.3 billion), an official was quoted on Wednesday as saying.

The Tatweer Building Company (TBC), a government building management establishment, will offer the projects to developers as part of a public-private sector partnership programme, said Musab Al-Bareya, privatisation director at TBC.

"The schools will be built in the Eastern region and they will be offered to private developers shortly," he told the Arabic language daily Aleqtisadia.

He said other projects would be offered to the private sector in the Western Madina city for the construction of 60 schools.

Tenders for the Madina project will be issued in April and it will be launched in June 2021, he said, adding that this project would be completed within three years.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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