Today, Tuesday, Almarai Company announced a plan to enter the fish and marine products sector, and invest in “chicken mothers” breeding facilities to support food security in the Kingdom of Saudi Arabia, with a total investment of 405 billion riyals.
Almarai said in a statement on “Saudi Tadawul”, that its board of directors approved an investment plan to enter the sector of selling fish and marine products.
She added that this investment plan includes an initial investment of 252 million riyals to establish industrial facilities for processing fish and marine products, and it will be financed from the company’s operating cash flows.
She explained that it will allow Almarai to provide its customers with high quality fish and marine products, which will contribute to expanding the company’s products range, which will be reflected in enhancing and supporting food security in line with the objectives of Vision 2030.
The company will work to obtain the necessary approvals from the regulatory authorities, and it is expected that the project will be completed within 24 months after the date of obtaining these approvals.
In a separate statement, Almarai Company said that its board of directors approved an investment of 153 million riyals to secure the availability of “chicken mothers” for the company and the market in Saudi Arabia.
She added that this investment will contribute to enabling Almarai Company to mitigate the risks of a shortage of “chicken mothers” in the Kingdom, by using “brothers of chickens” facilities to produce hatching eggs, as was previously planned in the expansion of production capacity in the poultry sector.
Almarai clarified that its proactive investment in this vital aspect comes to support the food security system in the Kingdom, and to continue providing products of the highest quality standards.