BRF to construct poultry plant in Saudi Arabia
Poultry processor BRF has signed a Memorandum of Understanding with the Saudi Arabian General Investment Authority (SAGIA) to build and operate a plant in the country.
The business is investing $120m into the new facility, that will manufacture breaded and marinated products, hamburgers, among others. The products will be destined in its majority to the Saudi market, with some also being exported to other neighbouring countries.
In the notice, BRF said the investment was designed to “expand and consolidate its presence in the Saudi market”.
The location, capacity, investment schedule, capital structure and other conditions related to this plant will be established soon during the specification phase of the project.
In September, BRF sold its stake in Singapore food service joint venture SATS BRF Food (SBRF) to Asia-based food service operator SATS for S$17m (R$51m).
