Saudi Arabia to raise $800m from privatization of two flour mills.

DUBAI: Saudi Arabia is set to generate about SR3 billion ($800 million) in proceeds from the privatization of two flour mills.
The National Center for Privatization & PPP (NCP) said it completed the sale of the two mills (MC2 and MC4) to private sector investors.
A consortium that includes Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment, Al Rajhi International for Investment, National Agricultural Development and OLAM International acquires the second milling company (MC2) for about SR2.14 billion, according to a stock exchange filing on Wednesday.
Meanwhile a consortium that includes Abdullah Al-Othaim Markets Company, Allana International Company and United Feed Manufacturing Company secured the fourth milling company for SR859 million.
Saudi Arabia is accelerating plans to privatize key infrastructure in an effort to modernize the economy, speed major infrastructure works and develop its financial services sector.