Saudi Arabia is planning to sell its grain silos as part of the kingdom's privatization drive after the sales of the flour mills last month were completed with great success.
Bloomberg reported that the state-owned Saudi Grains Organization (SGO) aims to start selling silo sites as soon as this year.
SAGO will seek bids from foreign and local firms; however, no decisions have been made and SAGO may retain the assets, according to people familiar with the matter.
In April, the National Center for Privatization (NCP) and SAGO announced that the third milling company was sold to investors, bringing the total sale of the four companies to $2 billion.
Meanwhile, the Ministry of Industry and Mineral Resources launched a digital platform Monday, which it said facilitates access to all services through several channels and electronic services in the easiest way and the latest technology.
The Ministry pointed out the digital platform comes as the ministry seeks to facilitate the work of industry and mining partners.
The platform has several advantages: the speedy completion of services, saving time and effort, making the latest information and statistics available to researchers and investors, and facilitating access to the ministry’s services, according to the Ministry.
In other news, Almarai company announced new investments worth $1.7 billion aiming to double the production operations in poultry in the Kingdom through three phases until 2026.
These investments will increase the company’s share of chilled chicken, along with increasing its production and share of frozen poultry.
The company’s market share currently stands at about 34 percent in chilled poultry, and 12 percent of the total sector.
The production after investment will increase to 450 million birds per year, while the Kingdom's imports of the poultry sector are nearly 45 percent.