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Saudi Arabia Starts Final Phase of Mill Privatization

Kingdom is selling its entire flour milling business as part of a broader plan to overhaul the economy


Saudi Arabia’s state grain buyer SAGO said on Sunday the second and final stage of the bidding process for its mills had started, reports Reuters.

The kingdom is selling its entire flour milling business, in a long-awaited privatization that marks one of the first sales of the country’s state-owned assets.

The sales are part of broader plans to overhaul the economy.

The first part of the milling sector privatization was completed in July with the sale of two milling firms to Saudi and Gulf investors.

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