RIYADH, SAUDI ARABIA — The National Agricultural Development Co (Nadec) has agreed to form a consortium to bid on one of two flour mills to be privatized by the National Center for Privatization and PPP and the Saudi Grains Organization (SAGO), according to the website ZAWYA.

Along with Nadec, the consortium will include Olam International, Al Rajhi International for Investment and Abdulaziz Alajlan & Sons.

The agreement among the companies outlines the joint venture and the companies’ relationship in a holding company to be set up in Saudi Arabia, if they bid to acquire the mill.

SAGO approved a plan to sell its flour mills as part of the privatization drive started under Vision 2030.