Saudi Savola sets up two African factories
The Saudi Arabian Vegetable Oil Company (Savola) is planning to establish two new manufacturing plants in Africa, with a total investment estimated at 40 million Saudi riyals ($10.66 million).
The two factories, set up in the North African state of Morocco and Central Africa’s Sudan, will jointly produce up to 70,000 tons of vegetable oil annually, starting in mid-2004, reported the kingdom’s official news agency SPA.
Established in 1979 with an initial capital of SR90 million, the Savola Group is a food processing and trading company focusing on edible oils and fats, sugar and food retailing. It operates manufacturing plants in Jeddah (Saudi Arabia), Egypt and Jordan, with investments also in Pakistan, Algeria and Sudan.
Savola's product range includes brands such as Afia, Al-Arabi, Lisa, Karam, Shams, Nakheel and Hala. The joint stock group operates 46 stores in Saudi Arabia and claims to control 80 percent of the vegetarian oils market of the Kingdom. — (menareport.com)
© 2003 Mena Report (www.menareport.com)