Saudi’s Almarai approves Dh20bn capital investment plan

The board of Saudi Arabia’s Almarai has approved a capital investment plan which will reach 21 billion riyals (Dh20.56bn) in the next five years, it said on Tuesday.

The Gulf’s largest dairy firm said the 2016-2020 programme will replace their existing investment plan, and cover the capacity expansion needs in the areas of farming, manufacturing, distribution and logistics.

“The objectives set by the board include increasing further its presence in all segments and geographies where it operates, targeting to double consolidated sales, while improving the financial performance,” it said in a statement.

Its previous investment plan had foreseen spending worth 15.7bn riyals between 2013 and 2017.

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