Almarai seeks expansion, opportunities in North Africa, Iraq: Chairman

19/03/2024 Argaam
Prince Naif Al Kabeer, Chairman, Almarai Co.

Prince Naif Al Kabeer, Chairman, Almarai Co.

Almarai Co. is currently focusing on expansion and exploring opportunities in promising markets of North Africa and Iraq, Chairman Prince Naif Al Kabeer told Al Arabiya.

 

He said that the five-year strategic plan will be financed from the cash flows, supplemented by additional financing if necessary.

 

Almarai's strategy has two aspects, with focus on expanding existing and new factories to create more jobs for Saudis.

 

The company is currently focusing on promising opportunities in light of the Kingdom’s Vision 2030, Al Kabeer said.

 

According to data compiled by Argaam, Almarai Co.’s board of directors approved, on March 18, the company's strategic plan for the five years ending December 2028.

 

The plan entails an investment program exceeding SAR 18 billion, distributed among various strategic pillars and enablers, some already underway.

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