Almarai enters the red meat sector with an initial investment of 250 million riyals
In a meeting held yesterday, the Board of Directors of Almarai approved an investment plan to enter the red meat sector. This investment will allow the company to provide local meat with trustworthy quality to consumers, expand the base of its sectors, and enhance its strategic role in achieving food security which is aligned with the goals and vision of the Kingdom 2030.
The company provided further clarifications in an official statement indicating that entering the red meat sector will be with an initial investment of 250 million riyals (which will be financed internally from the company’s operating cash flows) to build a new integrated factory starting from the slaughterhouse and meat preparation and ending with the packaging for sale in retail stores. Almarai’s expertise in calves production and its supply chains will support this project to succeed.
The company added that it will work to obtain the necessary approvals from the regulatory authorities, expecting that the project is completed within 24 months from obtaining these approvals.