Kraft Foods, Olayan expand Nabisco Arabia plant

Updated 10 June 2012
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Kraft Foods, Olayan expand Nabisco Arabia plant

Global snacks giant Kraft Foods has, in association with the Olayan Group, announced the expansion of its Nabisco Arabia plant in Dammam with the inauguration of a new Oreo production line and improved infrastructure and facilities.
The new production line was officially inaugurated by Lawrence MacDougall, president, Kraft Foods Middle East, and Africa and Jean Marc Delpon De Vaux, president (consumer goods division), Olayan Financing Company, in the presence of Vishal Tikku, managing director, GCC and Middle East shared services, Kraft Foods; and Hamad A. Olayan, director of corporate affairs, Olayan Financing Company.
The expansion spans around 8,500 sq. meters and includes a brand new state-of-the-art production facility that adds more capacity to the production of Oreo, in addition to the range of Nabisco biscuits, infrastructural enhancements enabling maximization in floor space utilization, improved ergonomics in equipment usage, and environmental-friendly refrigerant gas air-conditioning units.
The new production line more than doubles the plant’s production capacity to better serve consumers in Saudi Arabia and the region, and reflects the popularity of Oreo cookies. Besides Oreo, the Nabisco Arabia plant also produces Ritz crackers, and Belvita biscuits.
Following the expansion, the Nabisco Arabia plant has a capital investment of around SR 60 million. The plant employs approximately 170 people from six different nationalities, of which around 30 percent are Saudi.
“This announcement marks the expansion of our operations in the region and is a reflection of the increasing popularity of Nabisco brands, reinforcing our positioning as ‘a global snacks powerhouse’ not only internationally but also in the region,” said MacDougall.
Jean Marc Delpon De Vaux of the Olayan Financing Company said: “I am pleased to celebrate another milestone in business growth. We are proud of this factory’s achievement and our 50-year business relationship with Nabisco-Kraft.”

 


Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

Updated 22 February 2026
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Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.

On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.

The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.

According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.

The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.

The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.

The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.

Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.

The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.

Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.

Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.

The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.

Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.