Almarai’s $4.8bn push to advance Saudi food security

Almarai’s $4.8bn push to advance Saudi food security

Almarai, the Middle East’s largest dairy farm, will spend more than SAR18 billion ($4.8 billion) under its new five-year strategic plan to achieve food security, which is part of the kingdom’s Vision 2030 goal. “Investment in the food industry contributes to achieving food security in the kingdom and the region,” the company said in a […]Almarai, the Middle East’s largest dairy farm, will spend more than SAR18 billion ($4.8 billion) under its new five-year strategic plan to achieve food security, which is part of the kingdom’s Vision 2030 goal.

“Investment in the food industry contributes to achieving food security in the kingdom and the region,” the company said in a statement published on the Saudi bourse on Monday.

The 2024-28 strategy is designed to boost growth, optimise sales and enhance financial performance across multiple segments.

As part of the plan, SAR7 billion will be allocated to poultry expansion, SAR5 billion to support existing core product categories such as dairy, juice and bakery, SAR4 billion will be earmarked to develop supply chain and sales capabilities for local and regional expansion and SAR1 billion will be used to move into new food segments.

The company will also invest SAR1 billion to support and accelerate technology innovation.

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