Saudi Arabia has appointed Goldman Sachs to manage the sale of a stake in Riyadh’s King Khalid International Airport, the first major privatization of a Saudi airport, Reuters reported on Tuesday, citing sources familiar with the matter.

 

The Saudi Civil Aviation Holding Co. is considering selling a minority stake in the airport, the second biggest in the Kingdom after Jeddah's King Abdulziz International Airport.

 

The size and value of the stake are yet to be announced.

 

Saudi Arabia plans to privatize a total of 27 airports by mid-2018, as part of ongoing fiscal reforms in the wake of falling oil prices.

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