(MENAFN) Mars, the American chocolate company, said it is planning to increase its investments in Saudi Arabia as the company opened a new factory at the King Abdullah Economic City (KAEC), Saudi Gazette reported.
The chocolate factory, which produces branded Galaxy products, was opened following 6 years of preparations between Mars, Inc. and the management of KAEC's Industrial Valley, with the factory currently employing nearly 100 associates, with expectations that the number of employees will double once the factory becomes fully operational.
Currently, the factory is producing 15.000 tons of Galaxy brand chocolate yearly, but this number is to be increased to 100.000 tons over the next 10 years, with expansion also into other brands, including M&Ms, Snickers, and Jewels.
Mars said it has made an initial investment of USD60 million on the new chocolate factory, though the company is expected to it spend an additional USD150 million over the next decade.
"This investment is really a testimony of our commitment as Mars to the Saudi market. We are committed to continue investing in the business; we are committed to continue investing in developing the local talents; and we are committed to continue investing in our local communities," GM of Mars Saudi Arabia.
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