Skip to content Skip to Search
Skip navigation

Nestle to invest $1.86bn in Saudi Arabia over 10 years

By Pramod Kumar
People, Person, Man Ministry of Investment
The ministry signed an agreement with Nestle, which includes establishing a factory

Food giant Nestle will invest SAR 7 billion ($1.86 billion) in Saudi Arabia over the next ten years, the kingdom’s investment ministry announced in a tweet.

The ministry signed a memorandum of understanding with Nestle to establish a factory and a research and development centre.

The Swiss headquartered company plans an initial investment of SAR 375 million in the kingdom.

In its Investment Highlights Q3 2022 report, the ministry announced the signing of 53 investment deals with investors across several sectors, such as communications, energy, and health industries.

The country recently launched the global supply chain resilience initiative to become an industrial powerhouse and global logistics hub.

According to the ministry’s data, the number of new investment licenses recorded a growth by 8.8 percent, or 928 licenses in Q3 2022, compared to 853 licenses in the same quarter last year.

Up until the third quarter of 2022, the number of investment licenses increased by 527.4 percent, or 15,000 licenses, compared to the same period last year.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]