Tanmiah unit signs contract to buy SAR 143M factory

Logo of Tanmiah Food Co.

Tanmiah Food Co. announced that its subsidiary, Agricultural Development Co., signed a contract with Dajen Poultry Co. to purchase a new primary processing plant and land in Saudi Arabia for SAR 143 million.

In a statement to Tadawul, the company indicated that the transaction will be financed through previously obtained banking facilities, adding that both parties will adhere to the terms, obligations, guarantees, and commitments outlined in the contract.

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The company pointed out that the acquisition of the new plant is a key initiative aligned with the company's strategic expansion plans.

Tanmiah pointed out that the acquisition of the new plant is a key initiative aligned with its strategic expansion plans. The new plant will increase the company’s net production capacity in 2025, in addition to supporting its sustainability initiatives, including a new waste management facility and a water treatment plant. The additional land will be used to plant trees, a significant sustainability initiative for the company.

The deal reflects Tanmiah's commitment to supporting the Kingdom's food security and self-sufficiency goals under the umbrella of Vision 2030, the statement added.

The facility is designed to enhance operational efficiency and increase capacity to meet the growing market demands.

Moreover, this investment comes in line with the company’s vision of driving growth while maintaining the highest standards of environmental responsibility and operational excellence.