Saudi food conglomerate Savola is issuing an Islamic bond (sukuk) with a maturity of seven years.
Savola is the largest sugar refiner in the Middle East but also has a 36.5 percent stake in Saudi dairy producer Almarai.
Bloomberg Business Week recently ran a good profile on Almarai and its founder and major shareholder Prince Sultan bin Mohammed bin Saud al-Kabeer. The story pointed to the importance of feedstock imports from Argentina.
It seems that the expansion plans of the Saudi dairy industry are backed up by financial prowess.