Saudi Arabia appoints UK bank for PPP project

16 February 2017

Tatweer Building Company has also appointed US law firm King & Spalding

Saudi Arabia’s Tatweer Building Company (TBC), part of the Ministry of Education, has appointed the UK’s HSBC a financial advisor on a public private partnership (PPP) school project.

In 2016 MEED reported that TBC appointed US law firm King & Spalding to advise on the project.

TBC intends to appoint a developer to carry out its education PPP project. The work involves advising TBC on how to structure the PPP and involve the private sector.

TBC is responsible for managing and tendering Ministry of Education facilities including school buildings, educational facilities and administration buildings. It supervises construction and operates, and maintains the buildings.

This is part of a wider drive in the kingdom towards using PPP for infrastructure and social infrastructure, as outlined in the National Transformation Plan (NTP).

Saudi Arabia student numbers are expected to increase by 3.5 per cent a year by 2020, according to Alpen Capital.

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