Riyadh – Mubasher: Saudi Arabia will complete the privatisation of the final two flour milling companies soon, official spokesperson for the National Center for Privatization & PPP (NCP), Hani bin Nasser Alsaigh, told CNBC Arabia on Sunday.

Last week, NCP and the Saudi Grains Organization (SAGO) completed the privatisations of the first and third flour milling companies. This involved a competitive tender process for the shares of two of the four milling companies to strategic investors.  

The kingdom is selling its entire flour milling business, in a long-awaited privatisation 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, according to Reuters.

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