PepsiCo Middle East CEO: Sustainability at the ‘core’ of its strategy

PepsiCo Middle East CEO Aamer Sheikh.
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Updated 19 February 2023
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PepsiCo Middle East CEO: Sustainability at the ‘core’ of its strategy

  • PepsiCo aims to exchange know-how and best practices in the mission of promoting sustainable development

RIYADH: PepsiCo Middle East CEO Aamer Sheikh highlighted the company’s 100 percent local and regional water replenishment initiatives as a part of its sustainability goals on the sidelines of the second edition of the LEAP tech conference in Riyadh.

“What other companies have done is talk about sustainability. What PepsiCo has done is put sustainability at the core of its strategy. To be the leading global company in beverages and convenient foods, you have to do it while taking into account all the sustainability elements that come into play,” Sheikh told Arab News.

“When we talk about water conservation, we want to give back to the communities the amount of water we take. In our Riyadh plant, we are actually replenishing 100 percent of the water. And that simply means whatever water we use, we are working with the regional growers and the farmers to bring our best practices for them to be able to save an equivalent amount of water in their practices,” Sheikh explained.

Sheikh added that through their sustainability initiatives, they also aim to exchange know-how and best practices in the mission of promoting sustainable development.

“We are investing in technologies that are more efficient in using water. Our beverage franchise partner, Aljomaih in Riyadh, invested $10 million over the last five years. That reduces water consumption by 40 percent,” he explained.

As a part of the LEAP conference, PepsiCo also discussed its future ambition to embrace the digital revolution through the use of artificial intelligence.

“We are looking across all aspects of our value chain (to find out how we can) embrace and digitalize our organization at a much faster pace than what we have done in the past,” Sheikh said.

The PepsiCo CEO expressed the company’s mission in participating in the Kingdom’s transformation in line with Vision 2030.

“Saudi Arabia is going through a very unique transformation at this point in time, and our objective is to really embed PepsiCo in the fabric of the society. So, if you notice, we are showing up in all the key events. We are participating in all the major events, whether it’s Riyadh Season, Jeddah Season or Formula E Grand Prix,” he said.

“Our objective is to make sure that PepsiCo, through the power of its brands, is participating in the transformation that is taking place in Saudi,” Sheikh added.

Through its initiatives, he said, the company aims to educate the public on what it is doing to “drive a more sustainable organization and environment” and encourage “others to join in as well.”
 


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.