Sector News

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

October 31, 2019
Food & Drink

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

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

January 17, 2021

Ireland’s agri-food sector bolstered with €1B from EU Brexit fund

Food & Drink

Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.

January 17, 2021

Diageo names new CFO as Kathryn Mikells to exit later this year

Food & Drink

Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.

January 17, 2021

Monster Beverage names Hilton H. Schlosberg as co-CEO

Food & Drink

Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.

Send this to a friend