The National Center of Privatization (NCP) said in a statement today that the decision issued by the Cabinet giving permits to Milling Company 1, Milling Company 2, Milling Company 3 and Milling Company 4 to produce flour and transferring ownership of the four flour milling companies (MCs) to the NCP comes in line with the NCP's role in supporting privatization in the Kingdom of Saudi Arabia and goes along with the Cabinet's decision issued recently allowing the NCP to own assets and companies. The NCP also said that this transfer of ownership shall not have an impact on the ongoing privatization of the MCs. The privatization of the MCs is still going according to plan and is expected to be finalized by 2021. The MCs 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.
