Saudi Arabian dairy firm Almarai's board of directors has approved a capital investment plan for SAR21bn (US$5.6bn) over the next five years.
The investment will cover expansion in farming, manufacturing, distribution and logistics.
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In a statement, the company said the 2016-2020 programme would replace an existing plan to invest SAR15.7bn between 2013 and 2017.
"The objectives set by the board include increasing further its presence in all segments and geographies where it operates, targeting to double consolidated sales, while improving the financial performance," the company said.
"The board is confident that the strategies and action plans in place, in the traditional core businesses of dairy, juice and bakery, the developing businesses in the poultry and infant nutrition categories, as well as the dairy and juice businesses in Egypt and Jordan, through the joint venture International Dairy and Juice (IDJ), will deliver against these ambitious objectives."
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