CAIRO, Nov 23 (Reuters) – Nestle (NESN.S) will make investments 7 billion Saudi riyals ($1.86 billion) in Saudi Arabia over 10 years, the dominion’s funding ministry mentioned on Twitter on Wednesday.
The ministry added it signed a memorandum of understanding with Nestle within the area of meals industries saying it consists of establishing a manufacturing unit and a analysis and growth centre.
The corporate plans an preliminary funding of 375 million riyals in Saudi Arabia, it mentioned.
($1 = 3.7582 riyals)
Reporting by Yasmin Hussein
Enhancing by Chris Reese
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