Riyadh is seeking consultants for a study to plan how it can reprioritise its future capital spending. It is understood the aim is to save SR70bn ($18.7bn) from planned project spending totalling SR260bn.

The study involves assessing and planning future spending for several of Saudi Arabia’s largest government departments, including the health, education, housing and transport ministries. It will focus on capital expenditure plans, but will also consider operational costs.

The firms expected to compete for the 26 week study include UK-based EY and PwC, Netherlands-headquartered KPMG and US-based McKinsey & Company.

The study will support Saudi Arabia’s National Project Management Office (NPMO), which will oversee future capital expenditure projects in the kingdom.

Riyadh is selecting consultants to help run the NPMO and held meetings with bidders in late August.

The NPMO was formed by the Ministry of Economy & Planning in 2015.