Saudi Arabia Plans Sale of Grain Silos as Privatizations Pick Up
- The kingdom raised $1.5 billion from selling its flour mills
- Crown prince wants to use asset sales to open up the economy
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Saudi Arabia, one of the world’s biggest buyers of wheat and barley, is preparing to sell some of its grain silos as part of Crown Prince Mohammed Bin Salman’s privatization drive.
State-owned Saudi Grains Organization aims to start selling silo sites as soon as this year, according to people familiar with the matter. SAGO will seek bids from foreign and local firms, said the people. No decisions have been made and SAGO may retain the assets, they said.