IDB 20 million investment in Saudi
02/11/2013 Website News
A 75 percent shareholding in Al Wazeen Trading is all part of a 20million euro investment in Saudi Arabia by IDB ( Irish Dairy Board.
With the removal of EU Milk Quotas on the near horizon, this investment in a cheese manufacturing facility in Ridayh is seen as a strategic step by the IDB in growing new outlets for Irish Milk.
This announcement was made during a Dept of Agriculture Trade Mission to the Middle East. The IDB will work with Teagasc to develop special cheese tastes that are suitable for the Middle East market.
The success of the IDB, and in particular in Germany with the Kerrygold brand augers well for the continuance of development of a pipeline of innovative dairy based products for the world market.
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