Latest news with #NationalAgriculturalDevelopmentCo
Argaam
24-03-2025
- Business
- Argaam
NADEC CEO says livestock project to produce 1M head yearly
Abdulaziz Al-Rebdi, Chairman of National Agricultural Development Co. (NADEC), said its subsidiary, AlRai National for Livestock, signed an agreement with the Agricultural Development Fund (ADF) to finance an intensive livestock breeding and fattening project. The facility will have an annual production capacity of one million head, he told Argaam on the sidelines of the signing ceremony in Hail. Al-Rebdi said 30% of production will come from contractual partnerships with small-scale breeders and farmers. Construction will begin within four weeks, with the first production phase launching in 2026. The project is a strategic partnership between NADEC and Al Muhaidib Group, combining their expertise to create an integrated model based on global best practices in sheep breeding and fattening. Al-Rebdi said the initiative will create jobs for citizens and expatriates while supporting local businesses and service providers in Hail and across the Kingdom. Sustainability is a priority, with the project focusing on clean energy, environmental preservation, and local economic growth, he added. The Chairman said the project is part of NADEC's 2023 strategy to expand in red meat and animal protein. After launching beef production, this venture marks its second major investment in the sector. NADEC's 51% owned subsidiary, Al-Raai National Livestock, secured today, March 24, up to SAR 1.1 billion from ADF to finance the intensive livestock farming project, covering sheep and goat breeding and meat production.
Argaam
06-03-2025
- Business
- Argaam
NADEC, Hilton Foods to set up JV for red meat processing
National Agricultural Development Co. (NADEC) signed an agreement with the UK-based Hilton Foods Ltd., to establish a joint venture (JV) - as a limited liability company - in which NADEC will hold a 51% stake. Hilton Foods Ltd. is fully owned by Hilton Food Group Plc. In a statement to Tadawul, NADEC said that the shareholders' agreement includes several terms and conditions governing the establishment, management, and operation of the company and its business between the two parties. This strategic partnership represents a significant step for NADEC in expanding its offerings of locally sourced protein (red meat) products. Under this 10-year agreement, the joint venture will operate NADEC's boning and retail packing operations at its project in Haradh region to provide packaged local red meat products within the Kingdom of Saudi Arabia. Additionally, this agreement serves as a prelude to other related service agreements aimed at ensuring a sustainable supply chain to meet the needs of all consumer segments to operate within a specified timeframe and under clear supply terms, exclusively for NADEC in Saudi Arabia and the GCC and it is expected to enhance operational efficiency and reduce costs by adopting global best practices in supply chain management. This strategic partnership aligns with NADEC's commitment to Vision 2030 initiatives and its efforts to strengthen food security in the Kingdom by enhancing local production capacities and delivering high-quality local protein (red meat) products with diverse options for all consumer segments, the statement added. Meanwhile, NDEC noted that Hilton Foods is one of the world's leading companies in the protein (red meat) sector, offering high-quality meat, seafood, and vegan and vegetarian food products. The company operates through 24 technologically advanced facilities for food processing, packaging, and logistics services, serving over 19 markets across Europe, Asia, the Pacific, and North America. NADEC further confirmed that there are no related parties included in this agreement, stating that any material developments in this regard will be announced in due course.
