Saudi Arabia has suspended the privatization of the Ras Al Khair desalination and power plant, one of a number of state assets that the government aimed to sell to reduce pressure on capital spending and diversify revenues away from oil.

“This decision was made in order to capitalize on knowledge and capacity built in the Kingdom as a result of many years of experience in the areas of water desalination, new technologies, R&D (research and development) and supply chains”, said the Privatization Supervisory Committee for the Environment, Water and Agriculture sectors.

“A new engagement strategy and plan for the Saline Water Conversion Corporation (SWCC) assets such as Ras Al Khair plant will be announced shortly,” it said in a statement on Monday on the website of the Saudi national center for privatizations.

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