Saudi investment ministry signs $1.86 bn deal with Nestle to invest on food industries over 10 years

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RIYADH: Saudi Arabia’s Ministry of Investment signed an MoU to establish a cutting-edge manufacturing site, a research and development program in the Kingdom and Nestle’s first business incubator and upliftment program for Saudi talent.
Nestle will invest SR7 billion ($1.86 billion) in Saudi Arabia over 10 years, the kingdom’s investment ministry said on Twitter on Wednesday, adding the company plans an initial investment of SR375 million in the country. 
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