ADVERTISEMENT
Almarai Sets Five-Year Capital Expenditure at $2.83 Billion
Almarai Sets Five-Year Capital Expenditure at $2.83 Billion
27 May 2018, 02:18 PM IST
(Bloomberg) -- Almarai Co. set its five-year capital investment at 10.6 billion riyals ($2.83 billion) as the Saudi dairy-farm operator and food producer navigates "persistent challenging economic conditions" in the region.
"The focus on efficiency and cost optimization measures will continue throughout the plan period to ensure continuous competitive advantage," the Riyadh-based company said in a statement. The investment program will be financed through increasing operating cash flow and debt, including Islamic bonds.
To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net
To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net, Claudia Maedler
©2018 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT