Saudi-Brazilian partnership to invest more than $150 million in the production and manufacturing of poultry products
His Excellency the Minister of Environment, Water and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadli, sponsored in his office at the ministry’s headquarters yesterday, in the presence of His Excellency the Chairman of the Board of Directors of the Food Development Company, Mr. Amr Al-Dabbagh, the signing of a cooperation and strategic partnership agreement between the Food Development Company, one of the leading Saudi companies in the field of food, and the Brazilian company, Fibra, specialized in the production and processing of poultry, to contribute to achieving self-sufficiency in poultry meat and its products, and enhancing food security in the Kingdom, in accordance with the goals of Vision 2030.
The agreement seeks to invest more than (150) million dollars, including Fibra’s investment in the additional processing business of the Food Development Company, to support the expansion of additional processing capabilities using locally raised chicken, and joint investment in the primary processing process for poultry in Brazil, to contribute to enhancing the company’s operational efficiency, and supporting its position in the global poultry supply chain. The ministry explained that the first phase of the agreement includes Fibra’s investment in the additional processing business of the Food Development Company, indicating that This investment will be directed to building a specialized facility to expand poultry production and process its products using local chickens, while the two parties will explore in the second phase the possibility of acquiring the assets of a Brazilian facility for primary poultry processing.
She explained that the agreement aims to expand processing capacities for both poultry and beef, which contributes to improving the efficiency of the supply chain. In addition, the agreement will work to enhance international partnerships in the agri-food sector, enhance the flexibility of food supply chains, and support food security efforts, while increasing self-sufficiency in poultry meat and its products in the Kingdom.
Source: www.al-jazirah.com
