Arab News, Thursday, Nov 24, 2022 | Rabi Al Thani 29, 1444
Saudi investment ministry signs $1.86bn deal with Nestle to invest on food industries over 10 years
Saudi Arabia’s Ministry of Investment signed an
MoU to establish a cutting-edge manufacturing site, a research and development
program in the Kingdom and Nestle’s first business incubator and upliftment
program for Saudi talent.
Nestle will invest SR7 billion ($1.86 billion) in Saudi Arabia over 10 years,
the kingdom’s investment ministry said on Twitter on Wednesday, adding the
company plans an initial investment of SR375 million in the country.