Savola Group, a leading Saudi conglomerate, plans to investment approximately US$2bn in a number of business areas in Indonesia. The Savola Group will team up with local partners to do business in food and beverage industry, retail business, agribusiness and property sector, Rudi Rusli, an executive of the chamber of commerce and industry (Kadin) said.

We have met three times with the management of the Savola Group in Saudi Arabia and they have indicated strong interest in doing business in Indonesia, Rusli said to Asia Pulse newswire. The management of the company group has also met with a number of prospective local partners, he said. He said the Savola Group plans to open a number of hypermarkets in the country. HyperPanda is Savola Group’s hypermarket banner which it intends to roll out internationally. Recently the first store outside Saudi Arabia openend in Dubai (UAE).