Tackling food security: Saudi-listed Tanmiah plans to invest $1.2bln by 2030

Tackling food security: Saudi-listed Tanmiah plans to invest $1.2bln by 2030

Tanmiah Food Company (Tanmiah) is planning to invest 4.5 billion Saudi riyals ($1.20 billion) by 2030 as it signed four MoUs to improve sustainable food security and production, the Saudi stock exchange-listed company said in a statement.

The first was signed with Agricultural Development Fund (ADF) to launch the “10miah farmers initiative”, which targets producing 1.2 million chickens per day. The initiative aims to meet the Ministry of Environment, Water and Agriculture’s target of 80% local poultry meat production by 2025.

Tanmiah signed the second MoU with the Saudi Investment Recycling Co. (SIRC) to develop a framework for enhanced cooperation and integration to recycle agricultural waste from the poultry industry to increase greenery and support carbon reduction.

The firm’s third MoU was with National Center for Vegetation Development and Combating Desertification (NCVC) to develop a framework to support the vegetation cover at national parks, preserve their natural components, and develop the green infrastructure in Riyadh governorate, the statement added.

In addition, Tanmiah’s subsidiary, Desert Hills for Veterinary Services Company Ltd, signed an agreement with European poultry meat producer MHP to focus on developing and operating poultry breeding facilities. This includes establishing a greenfield hatchery in Saudi Arabia to hatch 108 million hatching eggs per