What’s Saudi Arabia going to do?

Riyadh: Saudi Arabia is now going to denationalise grain warehouses after flour mills.

Saudi Arabia, the world’s largest purchaser of wheat and barley, will promote a few of its grain warehouses, based on a report by a overseas information company.

In line with the report, the Saudi Inexperienced Group (SAGO), which is answerable for storing grain within the nation, goals to begin promoting warehouse websites this 12 months. Folks with data of this essential situation say that Sago will search affords from overseas companies.

He stated the Saudi Inexperienced Group had not but made a ultimate choice on whether or not to retain its belongings. It ought to be famous that Saudi Arabia has recorded a rise within the sale of its belongings.

A major agreement was reached regarding Saudi flour mills

Because the Saudi authorities seeks to open up and diversify its economic system, steps similar to privatization are being taken.

Sago bought all of its flour mills to native and worldwide investor teams for about ً 1.5 billion final 12 months. The Saudi Inexperienced Group at present has a storage capability of three.3 million tons of grain.

Saudi Arabia makes use of grain to feed largely sheep, camels and goats.

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