Saudi Arabia's Almarai to invest US$533 million in poultry business

Almarai, a Saudi Arabian dairy group, will invest SAR2 billion (US$533.3 million) to expand the poultry business of Hail Agricultural Development Co (Hadco).

Almarai will now focus its investments on Hadco to boost its poultry production fivefold to an average 120,000 chickens per hour. 

Almarai completed its takeover of Hadco last month and officially entered the lucrative poultry business. The company is diversifying its revenues through acquisitions and has earmarked SAR6 billion (US$1.6 billion) for investments to expand outside the Gulf Arab region.