PepsiCo’s Damam Facility Update

PepsiCo has unveiled plans to invest more than SAR 200MM in its Dammam plant, with the multi-million outlay expected to increase the overall capacity of the state-of-the-art facility to meet the increasing local and export demand. In line with Saudi Arabia’s Vision 2030 objectives, the investment marks the latest step taken by the global F&B company to enhance the Saudi agricultural sector and boost sustainable food production in the Kingdom. Fully aligned with pep+ — a strategic end-to-end transformation with sustainability at the center of how PepsiCo creates growth and value — the investment was announced and shared with the Minister of Industry and Mineral Resources on the sidelines of the 7^thedition Future Investment Initiative, which was held in Riyadh end of October, His Excellency Mr. Bandar Ibrahim AlKhorayef and is slated to be completed in 2024. In keeping with PepsiCo’s mission to transform the Saudi industrial sector, the investment underlines the F&B leader’s commitment to promoting sustainable agriculture practices across the Kingdom.