Balady Poultry inks SAR 81M deal for processing equipment supply

Balady Poultry Trading Co. signed, on May 13, a contract with BAADER Food Systems Denmark Co. for the supply of processing equipment for the poultry meat factory at a total value of SAR 81 million.

In a statement to Tadawul, the company said that the contract’s term is 24 months, noting that the poultry meat factory consists of two lines with a production capacity of 25,000 birds per hour.

The establishment of this plant aims to increase the production capacity of Balady Poultry company and contribute to achieving the food security of the Kingdom and providing the finest types of poultry meat at the lowest economic cost to advance the progress and economic development and keep pace with the aspirations of the vision of the Saudi Vision 2030, the statement added.

The financial impact cannot be determined at this time, the Saudi-listed company said, indicating that no related parties are included in the deal.

Any updates in this regard will be announced promptly.