JEDDAH, 20 May — Education Minister Muhammad Al-Rasheed said the scheme to build 3,000 schools at a cost of SR13 billion was primarily part of a national plan laid down by the ministry four years ago.
The move aimed to end dependence on rented buildings and to find effective solutions to shortage of school buildings, Al-Riyadh newspaper yesterday quoted the minister as saying.
When the ministry drew up the plan, it envisaged increased participation of the private sector in the project. The plan was to accept private investments and paying them back in long-term installments.
According to that plan school construction was to be completed in 10 years at the rate of 300 schools a year. The first estimate for the investment was SR18 billion which was later brought down to SR13 billion using latest construction designs.
The Educational Utility Development Company, which has undertaken the construction project, is an investment company licensed to finance the project. However, the ministry has no objection in other investors coming forward to finance any of the projects based on contracts which will lead to eventual ownership transfer.
Al-Rasheed said his ministry uses 3,850 rented school buildings at present. These buildings are not basically designed for educational purpose, he added.
He said the ministry would provide the land rewhere the schools are to be built. If a school is built on lands of other people the money will be paid by the investor and included in the investment amount, Al-Riyadh reported.
