Saudi and Brazilian companies sign deal to invest more than $150 million in poultry industry
Saudi Gazette report
RIYADH — Representing the Food Development Company, one of the leading food manufacturers in Saudi Arabia, Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadley has signed an agreement with Vibra, a Brazilian poultry production and processing company.The new partnership will contribute to achieving self-sufficiency in poultry meat and its products and enhancing food security in Saudi Arabia in line with the goals of Vision 2030.The agreement seeks to invest more than $150 million to expand the Food Development Company's processing capacity, increase its operational efficiency, and bolster its position in the global poultry supply chain.The ministry explained that the first phase of the agreement covers investment by Vibra in processing plants of the Food Development Company and in acquiring a primary poultry processing unit in Brazil. This investment will be directed to building a specialized facility to expand poultry production and process its products using local chickens. In the second phase, the two parties will explore the possibility of acquiring the assets of a Brazilian facility for primary poultry processing.
The agreement will expand processing capacities for both poultry and beef, contributing to improving supply chain efficiency. It will strengthen international partnerships in the agri-food sector, enhance the resilience of food supply chains, support food security efforts, and increase self-sufficiency in poultry meat and its products in Saudi Arabia.
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