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Mars To Invest $60 Mln. In Saudi Chocolate Factory

2/16/2012 3:11 AM ET

U.S.-based global food giant Mars Incorporated will make an initial investment of SR225 million ($60 million) to build a state-of-the-art manufacturing facility at the King Abdullah Economic City (KAEC) in Rabigh, about 130 kilometer north of the Red Sea port city of Jeddah in Saudi Arabia, it was announced on Wednesday.

Pamela Mars laid the foundation stone of the new factory, making Mars the first multinational food company to invest in the Saudi economic city.

Speaking on the occasion, she said Mars has had three decades of excellent ties with Saudi Arabia, and "we are taking this relationship to a new level by building this factory inside the Kingdom and making a life-time commitment."

The factory will begin operation in 2014 producing the highly popular Galaxy and Galaxy Jewels assorted chocolates, the Arab News reported.

Mars' KAEC unit will be one of the largest chocolate factories in the Gulf. An additional investment of SR562 million ($150 million) is also planned over the next decade. The facility will initially employ 60 associates. Another 300-400 associates will be joining the team once the factory is fully operational, the report said.

by RTT Staff Writer

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