The Public Investment Fund (PIF) launched the Saudi Coffee Company, which intends to invest almost SAR 1.2 billion, which accounts to almost $320 million, in the national coffee industry over the next ten years.
The Saudi Coffee company was established to support Saudi Arabia’s coffee bean to be a global product in the future, and will play a vital role in developing sustainable coffee production in the southern Jazan region, home to the famous Coffea Arabica.
The launch of the company comes in line with PIF’s strategy, which has a focus on developing and enabling 13 sectors, including food and agriculture, as part of broader efforts to diversify sources of income for the local economy.
Also read: Saudi Arabia’s PIF invests $235 million in NCSoft
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