Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
SAUDI ARABIA : MARS to invest $150million towards its SAUDI OPERATIONS
Publish Date : 13-Mar-2012
Chocolate manufacturers based in Dubai, Mars GCC, over the next 10 years is in plans to invest over $150 million into its Saudi operations. Already, supporting this move, Mars Saudi Arabia has made an initial investment of $60 million for establishing a production unit in the Kingdom.
The company has started work on its new, hitech production unit in King Abdullah Economic City (KAEC), Saudi Arabia, which after Dubai will be its second factory in the region. The construction of the unit will be done in accordance with Leed Green Building standards. It would initially employ 60 Mars associates on the project team. The facility is expected to be operational by 2014 and would deal in production of Galaxy and Galaxy Jewels.
During the launch, the general manager at Mars Saudi, Mohamed Safieddine, stated that, “The construction of a new chocolate manufacturing site in the region is a key enabler of our roadmap to growth strategy. With our network operating at capacity, we have made the decision that this investment is the best way forward for us to create capacity.”
He added, “The new site will increase our capabilities and flexibility, allowing us to compete effectively in a growing market, and to deliver fresh product to our consumers throughout the GCC and beyond. King Abdullah City will offer us the logistical infrastructure, including the largest sea port in the region, to transform our Saudi operation into one of our main regional hubs to service neighboring markets.”
The managing director and CEO of KAEC, Fahd Al-Rasheed, added, “Our long-term partnership further proves that the economic city has the ability to attract leading companies from diverse industries from across the globe. We are pleased to have Mars Incorporated establish their presence at KAEC’s Industrial Valley as the world’s leading confectionary.”
