Reported about 19 hours ago
Saudi Aramco is considering selling up to five gas-fired power plants to raise as much as $4 billion, part of an effort to bolster its finances amid declining oil prices and increased pressure from the Saudi government for higher profits. The company, which already accounts for a significant portion of state revenues, is also looking at divesting other assets, including housing compounds and infrastructure, to improve efficiency and manage costs. These potential sales coincide with Saudi Arabia's broader strategy to diversify its economy away from oil dependency.
Source: YAHOO