Almarai mulls entering branded local beef segment with initial investment of SAR 250 mln

15/12/2021 Argaam

Almarai office


Almarai Co.'s board of directors, on Dec. 14, approved the investment plan to enter the branded local beef segment, the Saudi Arabian dairy producer said in a bourse filing.
 

The plan will enable Almarai to offer its consumers with high-quality local meat, the statement added.
 

The plan will be achieved through leveraging the company's existing young cattle supply to the market and route to market infrastructure.
 

The move entails an initial investment of SAR 250 million, financed from Almarai's operating cashflows, to build a new end-to-end production plant, from slaughterhouse to butchery to deliver retail ready packaged branded meat.
 

The plan is subject to approval by various regulatory authorities and the expected time frame of this investment is 24 months from the date of final regulatory approval.
 

The move will expand the firm's product offering and contribute to the food security agenda as per the Kingdom's Vision 2030.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.