Nestlé will invest SAR 7 billion (approx. $1.86 billion) in Saudi Arabia in the next ten years to support business growth.

It will begin with an investment of up to SAR 375 million (approx. $99.8 million) to establish a new manufacturing plant, set to open in 2025. The site will initially produce Nestlé infant nutrition products and ready-to-drink coffee, exporting to countries in the Middle East and North Africa.

Khalid Al-Falih, minister of investment in Saudi Arabia, said: “This strategic plan was developed together with the Saudi ministry of investment’s food department, reflecting solid investor confidence in the Kingdom and its long-term prospects”.

He continued: “We more than welcome Nestlé’s investments which will contribute to food security and the development of local businesses, fuel local innovation and create jobs for youth and professionals – all objectives of Saudi Arabia’s Vision 2030 which the Kingdom is rapidly progressing with.”

According to the company, Nestlé’s investments in Saudi Arabia over the next decade are expected to generate 3,500 direct and indirect employment opportunities in area. It also covers the establishment of the company’s first regional centre with an R&D programme.

Yasser Abdul Malak, Nestlé chairman and CEO in the Middle East and North Africa, commented: “Saudi Arabia is a sizeable market with major potential for growth. We look forward to further expanding our presence in the country in ways that align with the Kingdom’s Vision 2030 and create shared value for its people, communities, and our company.”

Nestlé SA is part of the company’s Middle East and North Africa region, which holds 24 factories in 19 countries.