Saudi Arabia approves SR400m annually to build 120 schools with private sector

Saudi students sit for their final high school exams in Jeddah on May 24, 2015. (File photo: AFP)

The Council of Ministers on Tuesday approved an initiative to construct educational buildings with the participation of the private sector.

According to the initiative, a budgetary allocation of not exceeding SR400 million will be approved annually to build at least 120 schools in major regions of the Kingdom for a period of not more than 28 years.

The Cabinet approved the executive program after reviewing a report of the minister of education and recommendation of the Council of Economic and Development Affairs.

Minister of Media Awwad al-Awwad said the Council authorized the ministry of education to conclude contracts and agreements in this regard in addition to signing educational land lease agreements in the major regions of the Kingdom for a period of not exceeding 30 years to implement the initiative.

The ministry can conclude the agreements either with Tatweer Building Co. or any other companies. The Cabinet decided to approve the extension of the agreement with the government of France to avoid double taxation in respect of taxes on income, inheritance and legacies and the annexed Protocol for a period of five years.

The Cabinet also approved a memorandum of understanding between the Saudi National Anti-Corruption Commission, and the International Anti-Corruption Academy and the United Nations Office on Drugs and Crime.

This article was first published in Saudi Gazette.

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Last Update: Wednesday, 20 May 2020 KSA 09:52 - GMT 06:52
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