Almarai, a Saudi Arabian food company, is set to establish a new dairy facility in King Abdullah Economic City's (KAEC) industrial valley.
The company has signed a deal with KAEC for the purchase of 461,703m2 land in the hub.
The investment is part of Almarai's expansion and growth plans and, it comes after the company acquired a 200,000m2 plot in KAEC IV in 2012 to establish a bakery plant.
KAEC managing director and CEO Fahd Al-Rasheed said the infrastructure facilities in KAEC are state of the art and manufacturers have the key advantage of being located close to King Abdullah Port which gives them a keen competitive edge in distribution and export of products.
"There are numerous advantages for local and global companies, which create a unique atmosphere for investments and resulted in complete sellout of industrial lands in the first stage of Industrial Valley-Phase 2," Al-Rasheed added.
Advantages include business-encouraging regulations, hassle-free processes, ease of issuing permits and licenses and the possibility of providing manpower through training centers for Saudi talents.
KAEC is one of the major private sector initiatives in the Middle East, comprising a total area of 168 million sqm along the Red Sea coast.
