Fatima Al-Kashef

Modern Mills Company for Food Products, a Saudi company listed on the Saudi Stock Exchange (Tadawul), intends to establish a new food ingredients factory as part of its expansion plan, according to a company statement to Tadawul on Sunday.

The company , which was founded in 2016, operates in the field of producing flour and animal feed products through 3 factories. It is one of the sector companies that were privatized in the Kingdom, and it was listed on the Saudi market during 2024.

The company’s net profit after zakat and tax rose slightly by 0.4% during the first quarter of this year on an annual basis, to reach approximately 65.9 million riyals ($17.6 million), supported by revenue growth of approximately 6.4% to approximately 281.2 million riyals.

Details of the planned project

(According to the company statement)

- The investment cost of the factory is estimated at approximately 87.7 million Saudi Riyals.

Preliminary work on the project is expected to begin during the third quarter of 2026.

- Technical studies are still ongoing to determine the expected completion date of the project.

- The establishment of the factory will be financed through: internal resources + Sharia-compliant banking facilities, and other financing programs.

- No date has been set for the start of trial or commercial production at the factory, but the trial production period is expected to be one month.

(Prepared by: Fatima Al-Kashef, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com)

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