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FinancialNews
22-04-21
Saudi Arabia generates USD800M in proceeds from privatization of 2 flour mills
(MENAFN)Saudi Arabia planned to generate about SR3 billion (USD800 million) in profits from the privatization of two flour mills.
The National Center for Privatization and PPP (NCP) and the Saudi Grains Organization stated that privatization is completed for two state-owned milling companies as part of a bidding process that finished on April 19.
The Second Milling Company has set to be awarded to a group of Abdul Aziz Al-Ajlan Sons for Commercial and Real Estate Investments Company, Sulaiman Abdul Aziz Al-Rajhi International Company, National Agricultural Development Company and Olam International Limited. This consortium proposed an offer amounting at SR2.138 billion.
The Fourth Milling Company was awarded to a group consisting of Allana International, Abdullah Al-Othaim Markets and United Feed Manufacturing Company, after a proposition amounting at SR859 million.
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