This deal underscores Saudi firms’ surge in cross-border M&A, with BinDawood joining peers like Savola in UAE expansions.
The event marked the start of construction on the major project, a strategic move to boost local production and enhance national food security.
The company attributed the improvement to a sustained lift in consumer flour sales, where revenue grew 4.4%.
With global production forecasts remaining strong across several key exporters, international wheat values have softened, creating favorable conditions for major buyers such as Saudi Arabia.
The deal, signed on November 4, covers the construction of factory buildings, warehouses, and supporting infrastructure for the project.