Saudi Arabia’s PIF launches Saudi Coffee Company

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Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), said on Sunday it had launched a coffee company to promote the kingdom’s coffee beans.

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The Saudi Coffee Company will provide support to the national coffee industry through the entire supply chain, from bean to cup, the PIF said.

It will also play a key role in developing production in the southern Jazan region, home to the Coffea Arabica, it said.

The Saudi Coffee Company is expected to invest nearly 1.2 billion riyals ($319 million) over the next 10 years in the national coffee industry, to help boost annual production from 300 tons to 2,500 tons.

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