Almarai signs 5 deals with global firms worth over $136m
INDUSTRIAL NEWS
As part of its expansion investment strategy, Almarai has signed agreements with five leading global poultry companies worth over SR500 million ($136 million) to expand poultry production and increase the firm's market share. Almarai’s market share currently stands at over 250 million birds annually, with plans to increase production capacity to over 450 million birds annually by 2027.
This was announced on the opening day of the third edition of the Middle East Poultry Exhibition, inaugurated by the Minister of Environment, Water, and Agriculture Eng Abdulrahman bin Abdulmohsen Al-Fadhli. The show is being held from May 13 to 15, 2024 at the Riyadh International Convention and Exhibition Centre, under the title "Value Engineering", with the participation of more than 300 companies from 40 countries around the world.
Almarai's agreements are part of the company's investment plan for the next five years, during which the company will invest SR7 billion to expand poultry production and contribute to achieving self-sufficiency. This is also part of the sector's contribution to the growth of the national economy and confirms Almarai's growing role in achieving the kingdom's Vision 2030.
Diamond sponsor
Following the signing, the Minister honoured Almarai for its participation as a diamond sponsor. He then visited Almarai's booth at the exhibition, where he was briefed by Abdullah bin Nasser Albader, the CEO of Almarai, on the company's future projects to expand poultry production.--TradeArabia News Service
