June 22, 2011
Saudi's Almarai to invest US$1.1 billion in poultry sector
Saudi Arabia's Almarai Co is planning to invest SAR4 billion (US$1.1 billion) in the poultry sector.
"This proposal was approved and will see the investment in the expansion of Almarai's poultry business by a total SAR4 billion," Almarai said.
The investment will start to deliver benefits in 2012 and will be financed through the company's cash flow.
Shares in Almarai had closed 0.3% up before the announcement was issued, outpaced by the index which climbed 1.3%.