Initiative results from a collaboration to provide quality food by setting up a plant in the country
BRF, one of the world’s biggest food companies, signed today a memorandum of understanding with the Saudi authorities to build a proprietary plant in the country, with investments of nearly US$ 120 million.
The initiative cements BRF’s position in the Saudi market, where it has been operating since the mid-1970s through the Sadia brand, a sales leader in the food industry in many product categories. The portfolio of the new plant will include high value-added products, such as hamburger patties, hot dog sausages, breaded meats and halal chicken marinades.
“The halal market is a priority for BRF and strengthening our presence in Saudi Arabia is part of our long-term commitment in the region. We support the Saudi government’s initiative on boosting local production and the investment we are now announcing with the support of the Saudi Arabian General Investment Authority — SAGIA — is a demonstration of our desire to actively participate in the development and growth of local poultry farming,” said BRF Global CEO Lorival Luz.
In addition to expanding a partnership of more than 40 years, the investment is also in line with the Saudi authorities’ “Saudi Vision 2030” plan that includes developing many different industries and ensuring long-term supply of quality food to its people.
The project is in line with the strategic plan of BRF and does not change its financial deleveraging journey for the coming years.
The announcement was made during the Future Investment Initiative (FII), an investment forum held annually in Riyadh, Saudi Arabia, attended by local officials.
With a wide range of well-established products and brands, including Sadia, Perdigão and Qualy, BRF employs more than 90,000 people committed to the management, quality and innovation of food production. With operations in more than 140 countries, the company is internationally recognized for its performance based on growth and sustainable development. With a history of more than 80 years, it produces foods that are a source of strength to get people’s lives moving every day and all around the world.