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](https://cdn.asp.events/CLIENT_Dubai_Wo_4B15F265_5056_B739_54F3125D47F0BC95/sites/saudifood-2023/media/libraries/articles/shutterstock_1339616471-1038x778.jpg/fit-in/700x9999/filters:no_upscale())
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.