Mamee TGU Factory, a joint venture between Mamee-Double Decker Sendirian Berhad and Top Golden Universe (TGU), will construct an instant noodles and snack foods factory at the Industrial Valley in King Abdullah Economic City (KAEC), Saudi Arabia.
The phase I of the development at the facility will begin immediately.
Expected to become fully operational by 2017, the facility will cater to instant noodles and snack food needs of the Saudi market as well as export its products to more than 120 countries.
It will provide more than 600 jobs and specifically serve the entire Middle East, North Africa and Europe region.
Mamee Group CEO Pang Tee Chew said that the Kingdom of Saudi Arabia's noodle and snack markets account to SR650m ($173.2m) and SR300m ($79.9m), respectively.
The country serves as a hub for further penetration into the Middle East and North Africa market with a combined noodle and snack market size which is in excess of SR14bn ($3.73bn) by 2018, added Chew.
KAEC Industrial Valley CEO Rayan Qutub said: "Mamee TGU's new factory is a great addition to the list of KAEC's national and international investors looking to establish a foothold in the Industrial Valley.
"Saudi Arabia accounts 60% of the food consumption and 75% of food processing in the Gulf region, and therefore we have developed the Industrial Valley as the new value-added logistics and manufacturing hub with all the advantages of an unrivaled strategic location."
Image: The facility will cater to instant noodles and snack food needs of the Saudi market as well as exporting its products to more than 120 countries. Photo: courtesy of foto76 / freedigitalphotos.
