The Saudi Grains Organization ("SAGO") and HSBC Saudi Arabia - the financial advisor for the Privatization - announced the conclusion of the Qualification Phase for the first stage of the Privatization of the flour milling companies, in accordance with the qualification criteria published on SAGO's website. Furthermore, SAGO and HSBC Saudi Arabia announced the launch of the Bidding Phase of the Privatization of the flour milling companies on 31st of July 2019G (corresponding to 28 Dhul Qadah 1440H) through sharing the Request for Proposal with Qualified Bidders. The Bidding Phase will be limited to the Qualified Bidders, during which they will conduct the necessary due diligence, and at the end of which they will submit their Financial Bids. It is worth noting that the four flour milling companies represent an attractive opportunity for the private sector to invest in one of the largest flour markets in the Middle East and North Africa with high and appealing growth rates, to further boost private sector productivity and improve product quality. The flour milling sector represents one of the targeted sectors for privatization under the Kingdom of Saudi Arabia's Vision 2030 realization plan as a part of the initiatives under the third pillar of the privatization program document and enjoys the support of the concerned regulatory and executive authorities led by the Ministry of Environment, Water and Agriculture, the Public Investment Fund and the National Center for Privatization and PPP.
