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Saudi Dairy Giant Plans $1.9bn Investments in Growth, Innovation

17 May 2019

SAUDI ARABIA - Saudi-based Almarai, the Middle East's biggest dairy producer, has approved a new five-year business plan with plans to invest SR7.1 billion ($1.89 billion).

Under the 2020–2024 plan, Almarai said each of its business units will drive the company forward through growth and innovation across the traditional trade, modern trade and foodservice channels, with its operating model transformed by more automation, cyber systems, cognitive computing and the growing digitalisation of the food and beverage industry.

"Given the persistent challenging economic conditions across the region, the focus on efficiency and cost optimisation measures will continue throughout the plan period to ensure continuous competitive advantage," Almarai said in a statement to the Saudi stock exchange.

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Source: Arabian Business

TheCattleSite News Desk

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