Almarai plans to invest SAR 21 bln over next 5 years

Almarai’s board has approved the company’s strategic five-year plan for 2016-2020, which includes a capital investment of SAR 21 billion, the top dairy producer said in a statement to Tadawul.

The company’s objective is to increase its presence and investments in all segments and geographies across the Arab world, as it aims to double its consolidated sales, while improving financial performance.

“In addition to the company's financing capabilities, either via traditional bank facilities, SIDF and ADF funds or via the Sukuk program currently in place, the growing operating cash-flow will be dedicated to finance these investments,” Almarai added.

The announced strategy will address investments required in product renovation and innovation, as well as covering capacity expansion needs in all areas of the company's integrated business model (farming, manufacturing, distribution and logistics).