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%.

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