São Paulo – Saudi food and beverage industry Almarai aims to expand its poultry business to double its share in the local market, according to news released on the Arab News website, based on information from the company’s CEO, Abdullah Nasser Al Bader.
Two days ago, Almarai announced an investment of SAR 5 billion (about USD 1.3 billion at the current rate) in Al-Shamli, in the Hail region, to expand poultry production (meeting pictured above). A new plant and farms will be established, providing four thousand jobs.
The investment is expected to raise Alamarai’s production by 150 million birds a year. Currently, the number is 225 million. With this, the company aims to become the regional poultry market leader. According to Bader, the business is profitable, despite its challenges.
The executive said Almarai’s strategy is to expand its activities to new sectors, and poultry has been one of the most important in the last 13 years. The company purchased Hail Agricultural Development Co. in 2009. Before that, it was already consolidated as one of the leading dairy companies in Saudi Arabia.
The CEO stated Almarai’s investments are linked to sustainability and continuity, and it is part of the company’s strategy to maximize the full potential of its main lines of business in the Gulf Cooperation Council (GCC) region.
In January, the company completed the purchase of Emirati-Bahraini food company Bakemart for SAR 95.4 million (about USD 25.4 million). In June, it communicated to the market it intended to invest 252 million Saudi riyals (USD 67 million) to enter the seafood sector.
Translated by Elúsio Brasileiro
