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24 Nov 2022

Saudi Arabia signs $1.86bn deal with Nestle to invest in food

Saudi Arabia signs $1.86bn deal with Nestle to invest in food

Nestle will invest $1.86 billion in Saudi Arabia over the next decade, a tweet released by the Kingdom's Ministry of Investment's official account announced on Wednesday. 

In a move which aligns with the company's expansion strategy in the Kingdom, the food manufacturing giant's initial investment of SR375 million will see the establishment of a manufacturing plant set to open in 2025, followed by a regional center with a research and development program, and its first business incubator for small and medium-sized companies and start-ups, according to a press release by the company. 

 

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