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FinancialNews
26-10-22
CEO: Saudi Coffee Co. seeks producing 2,500 tons of coffee yearly by 2027
(MENAFN) Saudi Coffee Co. is preparing to increase output by over 700 percent by 2027, as said by its chief executive Raja AlHarbi.
The company, individually possessed by the nation’s Public Investment Fund, presently produces 300 tons of coffee per year, but is targeting to reach 2,500 tons, the executive informed Arab News on the offshoots of the Future Investment Initiative in Riyadh on the 25th of October.
AlHarbi stated that the firm also has plans to establish 25 coffee shops internationally as he showed details of a tactical strategy including five pillars to elevate the coffee output sector in Saudi Arabia.
He stated that “We start at the beginning of the value chain, which is the agriculture part. We started our first model farm in Jazan to support small farmers and resurrect Saudi bean farming. The second step of the value chain is roasting and packing.”
Adding that “We will build an open platform factory to enable private sector, global and local brand names to utilize this factory and not necessarily invest into having their own facilities.”
MENAFN26102022000045014228ID1105081174
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