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Almarai Plans Investment in Poultry Sector

by 5m Editor
22 June 2011, at 9:55am

SAUDI ARABIA - Almarai Co has unveiled plans to invest SR4bn (US$1.1 billion) in the poultry sector.

According to a news agency, Reuters reports that the Gulf's biggest dairy firm by market value said the investment will start to deliver benefits in 2012 and will be financed through the company's cash flow.

"This proposal was approved and will see the investment in the expansion of Almarai's poultry business by a total of SR4bn," Almarai said.

Also shares gain on SR4bn poultry business expansion

Earlier, Almarai announced that its board of directors had approved a proposal to increase the scope of a project expansion of Almarais poultry business totalling SR4bn ($1.08 billion).