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FINANCIAL NEWS
Saudi to invest USD3.99b in dairy production by 2020
29 Mar 2015
(MENAFN) Saudi Arabia said that its dairy industry sector needs an investment of around USD3.99 billion by the year 2020 to boost production either by expansion or constructing new projects, Arab News reported.
The investments’ scheme is set to reduce the hollow between current production levels and expected consumption requisites, according to Aleqtesadiah daily.
Riyadh received the highest of capitals investments in the dairy industry by 70.5 percent, then Makkah by 20.4 percent, the Eastern Province by 7.4 percent and other regions at 1.7 percent, the report added.
The sector is fronting a number of hindrances such as the rise in the prices of production inputs compared to soothed prices of dairy products and narrow government support to dairy companies, according to a study by the national committee for dairy producers.
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