Sector News

BRF to build $120m chicken processing plant in Saudi Arabia

October 31, 2019
Consumer Packaged Goods

Brazilian meat producer BRF has signed a memorandum of understanding with the Saudi Arabian General Investment Authority (SAGIA), which will allow the construction and operation of a chicken processing plant in the country.

According to a securities filing lodged by BRF, the company will invest $120 million to construct the plant, which will be the company’s fifth production site in the Middle East.

According to BRF, the site will have an estimated production capacity of 50,000 tonnes per year, and the products produced at the new plant will include breaded and marinated products, burgers and more.

The products will mainly be produced for the Saudi market, but they will also be exported to other neighbouring countries.

In a statement, BRF said: “The company estimates the investment amount to be around $120 million, which will allow BRF to expand and consolidate its presence in the Saudi market.”

BRF has not yet selected a precise site for the new production plant, though a report from Reuters claimed that BRF chief financial officer Carlos Moura estimates that the site will be operational by the end of 2021.

Last month, sold its 49% stake in the SATS BRF Food joint venture in Singapore to SATS Food Services for $12.3 million, as part of a restructuring process which enabled BRF to focus on its core markets in Brazil, Asia and in the Middle East.

By Martin White

Source: FoodBev

comments closed

Related News

May 17, 2024

IFF announces CFO retirement plan

Consumer Packaged Goods

IFF has announced that its chief financial and business transformation officer, Glenn Richter, will retire on 31 December 2024, following a three-year tenure with the company. IFF has initiated the process of selecting a successor for the CFO position, considering both internal and external candidates.

May 17, 2024

Saputo’s president and CEO to depart from role

Consumer Packaged Goods

Saputo has announced that its president and CEO, Lino Saputo, will transition to the role of executive chair of the board. The transition is set to take place on 9 August, when Carl Colizza, the company’s current president and COO for North America, will assume the position.

May 17, 2024

Nestlé to invest BRL 1bn to strengthen Brazilian coffee sector

Consumer Packaged Goods

The coffee giant said the funding will be used to install new tech, such as roasting equipment, increasing production line flexibility to make new products and flavours – including higher value-added products, – and technology updates to improve sustainability.

How can we help you?

We're easy to reach