Saudi Arabia Closes US$125mn Juice Deal

In what appears to be a landmark move, Saudi Arabia's Menafea Holding is going to invest US$125mn in Zambia with a view to developing a juice production plant. Under the terms of the deal, Menafea will have access to about 5,000 hectares of land that will be used to grow pineapples. It will also build a factory to produce the juice (it will also build housing units in the capital Lusaka), which will sell both locally and via export back into the Middle East, where we expect juice consumption to continue growing particularly strongly in both Gulf and frontier economies.

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