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Press Dossier   News Category    Economy    Saudi investment ministry signs $1.86bn deal with Nestle to invest on food industries over 10 years

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: 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. 

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