A subsidiary of "Food Development" signs a contract to establish 100 broiler farms with "Chengdu" Design and Research Institute to establish 100 broiler farms

"Food Development" Company said: "The Agricultural Development Company, its subsidiary, has signed a contract with "Chengdu" Design and Research Institute to establish 100 broiler farms."

The company added in a statement to "Saudi Stock Exchange" that the contract includes construction works to prepare the infrastructure, equipment, and buildings of broiler farms. The project aims to establish modern farms in the Kingdom of Saudi Arabia, equipped with Industry 4.0 technologies on lands owned by "Agricultural Development".

The company explained that the project is part of future expansions in primary poultry production, in line with the general expansion strategy of the Food Development Company.

It indicated that it will start construction of the project in January, at a cost of 165 million riyals. A long-term and deferred payment plan was agreed upon. The expected date for completion of the project is December 2026, explaining that the financial impact of this contract is linked to the general expansion strategy.
She stated that the expected date for commercial production of the project is January 2027, and the expected impact of the project will begin in the company's financial statements starting January 2027.
Source: www.alarabiya.net