Balady Poultry Trading Company has announced a strategic expansion plan for 2025-2029, involving an investment of SAR 1.14 billion (approximately $303 million) to enhance its poultry production capabilities.
Key Components of the Expansion Plan:
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Slaughterhouse and Processing Facility: Construction of a new slaughterhouse and poultry meat processing plant with a production capacity of 500,000 birds per day.
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Broiler Chicken Coops: Establishment of 600 broiler chicken coops to support increased production.
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Hatcheries: Development of two hatcheries, each with an annual capacity of 100 million chicks, to ensure a steady supply for the expanded operations.
Financing the Expansion:
The expansion will be funded through a combination of the company's surplus cash reserves and financing from the Agricultural Development Fund, as well as Sharia-compliant loans from commercial banks.
Objectives of the Expansion:
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Increase Production Capacity: To meet the growing demand for poultry products in Saudi Arabia.
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Enhance Food Security: Contributing to the nation's food security goals by boosting local poultry production.
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Align with Vision 2030: Supporting Saudi Arabia's Vision 2030 objectives by strengthening the agricultural sector and maximizing shareholder value.
This strategic initiative reflects Balady Poultry's commitment to advancing the poultry industry in Saudi Arabia and addressing the increasing demand for high-quality poultry products.