What is Saudi Arabia going to do?
Riyadh: Saudi Arabia is now going to privatize grain warehouses after flour mills.
Saudi Arabia, the world’s largest buyer of wheat and barley, will sell some of its grain warehouses, according to a report by a foreign news agency.
According to the report, the Saudi Green Organization (SAGO), which is responsible for storing grain in the country, aims to start selling warehouse sites this year. People with knowledge of this important issue say that Sago will seek offers from foreign firms.
He said the Saudi Green Organization had not yet made a final decision on whether to retain its assets. It should be noted that Saudi Arabia has recorded an increase in the sale of its assets.
A major agreement was reached regarding Saudi flour mills
As the Saudi government seeks to open up and diversify its economy, steps such as privatization are being taken.
Sago sold all of its flour mills to local and international investor groups for about ً 1.5 billion last year. The Saudi Green Organization currently has a storage capacity of 3.3 million tons of grain.
Saudi Arabia uses grain to feed mostly sheep, camels and goats.