Hotpack to build SAR 1bln packaging production plant in KSA over seven years
- Date: 04-Apr-2023
- Source: Zawya
- Sector:Industrial
- Country:Saudi Arabia
Hotpack to build SAR 1bln packaging production plant in KSA over seven years
- The company signed investment agreements with the Ministry of Investment, and Ministry of Industry & Minerals to build the facility spreading over a land 2.4 million sq.ft. over the next 7 years.
Dubai – Hotpack Global, the UAE-based global leader in food packaging products, has announced its plan to build one of the world’s largest sustainable packaging plants at an estimated investment of SAR 1 billion in the Kingdom of Saudi Arabia. The company has signed a Memorandum of Understanding (MoU) for this investment with the Kingdom’s Ministry of Investment and the Ministry of Industry and Minerals, respectively.
The agreement has been signed at a grand ceremony held at the Ministry of Investment headquarters in Riyadh in the presence of HE Khalid Al Falih, Minister of Investment; HE Osamah Alzamil, Deputy Minister of Industry and Minerals; HE Fahad Alnaeem, Deputy Minister of Investment; Mr. Abdul Jebbar PB, CEO and Group Managing Director of Hotpack Global, and senior officials from both the ministries. The delegation from Hotpack Global included Suhail Abdullah, Group Vice President; Dr. Mike Cheetham, Global Business Development Director, Suhas KA, Operations Director - KSA, and Muhammed Sherief, General Manager – KSA.
The investment is in line with Hotpack's vision to