"Balady Poultry" announces an expansion plan with investments of 1.13 billion riyals Between 2025 and 2029

"Balady Poultry" Company announced its strategic expansion plan between 2025-2029, which aims to invest in the poultry sector in the amount of 1.137 billion riyals.

The company said in a statement to the Saudi Stock Exchange: "that the plan includes establishing a slaughterhouse and a factory for the production of poultry meat and its products with a production capacity of 500,000 birds per day, establishing 600 broiler chicken coops, and establishing 2 hatcheries with an annual capacity of 100 million chicks per hatchery".

It stated that the company's expansion work will be financed through surplus cash resources from the company's accounts and obtaining facilities and loans from the Agricultural Development Fund as well as commercial banks in the form of legitimate Murabaha.

It explained that the plan aims to increase the production capacity of poultry production and meet the ongoing demand, contribute to food security and achieve the goals of the Kingdom's vision 2030, and maximizing the value of shareholders' equity.
Source: www.alarabiya.net