Balady Poultry to embark on SAR 1.1 bn expansion plan

BaladyPoultry Trading Co. plans to embark on a SAR 1.1 bn expansion plan to boost its poultry production over five years, it said in a disclosure to Tadawul. The plan, which runs between 2025 and 2029, will see the company build a slaughterhouse and poultry meat factory with a daily production capacity of 500k birds, 600 broiler chicken coops, and two hatcheries with an annual capacity of 100 mn sauces each.

Where will the funding come from? The company will finance its expansion plans through surplus cash resources and Shariah-compliant loans from the Agricultural Development Fund and commercial banks.

REMEMBER- The Kingdom nearly doubled its poultry production over the past decade as part of a push for food self-sufficiency and to address an 80% reliance on food imports that leaves the Kingdom vulnerable to shocks. Saudi Arabia’s chicken production is growing at 6% a year — one of the fastest rates in the world.