Riyadh – Mubasher: HSBC forecast that privatisation of Saudi Arabia's flour milling sector will be started by the second quarter of 2018.

HSBC is financial advisor of the sale, which is the first of the kingdom's schemes to overhaul of its economy. 

The announcement of the sale process, which will be begun after obtaining approvals of Saudi regulatory authorities, is set to include the schedule for qualifying investors for the deal.

The Saudi Grains Organization (SAGO) has taken a raft of procedures to privatise the sector, including separating it into four milling firms and transferring their ownership to the Public Investment Fund (PIF).