Saudi’s PIF releases new project | MENAFN.COM

Monday, 04 July 2022 06:14 GMT

Saudi’s PIF releases new project


(MENAFN) Saudi Arabia’s supreme wealth fund released the start of the Saudi Coffee Co., setting a goal at switching Saudi coffee beans into an international good, as reported by The Public Investment Fund (PIF).

The Public Investment Fund announced that the firm aims to put in SR1.2 billion (USD320 million) within 2032. Adding to the aforementioned, releasing of the Saudi Coffee Co. is going to be a vital part in growing maintainable coffee making in the southern Jazan area, which is the place of the Coffee Arabica.

In addition to, “The launch of the Saudi Coffee Company aligns with PIF’s strategy, which focuses on developing and enabling 13 promising sectors, including food and agriculture, as part of broader efforts to diversify sources of income for the local economy.”

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