18 Muharram 1446 - 24 July 2024
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Eye of Riyadh
Business & Money | Saturday 18 May, 2024 6:33 am |

Almarai signs five agreements with international companies worth more than 500 million SR. at the Middle East Poultry Exhibition

As part of its expansion investment strategy, Almarai has signed five agreements with five leading global poultry companies worth over 500 million Saudi riyals. The aim is to expand poultry production and increase the company's market share in the sector, which 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 during the opening of the third edition of the Middle East Poultry Exhibition, inaugurated by His Excellency the Minister of Environment, Water, and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, held from (13-15 May 2024) at the Riyadh International Convention and Exhibition Center, under the slogan "Value Engineering", with the participation of more than 300 companies from 40 countries around the world.


Almarai's signing of the five agreements with global companies is part of the company's investment plan for the next five years, during which the company will invest 7 billion riyals to expand poultry production and contribute in achieving local 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 in all fields.


Following the signing of the agreements, the Minister honored Almarai for its participation as a diamond sponsor. He then visited Almarai's booth at the exhibition, where he was briefed by Mr. Abdullah bin Nasser Albader, the CEO of Almarai, on the company's future projects to expand poultry production, which received his appreciation. These projects come in line with the company's rapid growth direction and its aim to increase local content in the Kingdom by investing more in the poultry sector, making Almarai the largest food manufacturing company in the region.


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