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Saudi Sovereign Fund PIF Launches Coffee Company

Published on May 27 2022 10:45 AM in Drinks tagged: Coffee / Public Investment Fund / PIF / The Saudi Coffee Company

Saudi Sovereign Fund PIF Launches Coffee Company

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has said that it has launched a coffee company to promote the kingdom's coffee beans.

Details

The Saudi Coffee Company will provide support to the national coffee industry through the entire supply chain, from bean to cup, the PIF said.

It will also play a key role in developing production in the southern Jazan region, home to the Coffea Arabica, it said.

Investment

The Saudi Coffee Company is expected to invest nearly 1.2 billion riyals ($319 million) over the next 10 years in the national coffee industry, to help boost annual production from 300 tonnes to 2,500 tonnes.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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