The plan involves a $67 million investment
Almarai approves plans worth $67 million to enter the Seafood Category and expands its investments in Parent Bird facility projects. Almarai is a Saudi-Arabian multinational dairy company that appears on the Saudi stock exchange list.
Abdullah bin Nasser Al-Badr, CEO of Almarai, confirmed in a press release they will establish industrial facilities for processing seafood and high-quality products. The company’s operating cash flows will finance this s after obtaining the necessary approvals from the regulatory authorities.
“The company in this new sector will expand Almarai’s product offering and contribute to the food security plan,” he noted.
In addition, Al-Badr indicated these two investments prove the company’s commitment to enhancing national food security in line with the objectives of the Kingdom’s Vision 2030.
Finally, Almarai announced in 2021 the approval of an investment plan in the red meat sector. This allowed the company to provide high-quality local meat that matched their choices and preferences.