A new five-year business plan for the period 2019-2023 has been approved by Almarai’s board of directors following a review of the company’s long-term vision.In a statement on Sunday, the company said the capital investment level during the period 2019-2023 is planned to reach €2.4bn, which is in line with the long-term investment cycle of the company calling for less expansionary investments and a move towards more efficiency and sustainability.
A new five-year business plan for the period 2019-2023 has been approved by Almarai’s board of directors following a review of the company’s long-term vision.
In a statement on Sunday, the company said the capital investment level during the period 2019-2023 is planned to reach €2.4bn, which is in line with the long-term investment cycle of the company calling for less expansionary investments and a move towards more efficiency and sustainability.
The investment will help with the replacement of existing assets and the improvement of production capacities in farms and manufacturing facilities.
It will also see an extension of Almarai’s geographical footprint.
Growth and innovation
Each of Almarai’s seven business units will drive the company forward through growth and innovation across the traditional trade, modern trade and foodservice channels, with its operating model transformed by implementation of automation, cyber physical systems, cognitive computing and the growing digitalisation of the food and beverage industry, the statement said.
“Given the persistent challenging economic conditions across the region, the focus on efficiency and cost optimisation measures will continue throughout the plan period to ensure continuous competitive advantage,” it said.
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