Saudi-based dairy giant Almarai is looking to enter the seafood market with an investment of $67 million (SR252 million).
The investment will be used to fund Almarai’s seafood processing facility, the company said in a statement to the Saudi bourse.
“This investment plan will expand Almarai’s product offering and contribute to the food security agenda as per vision 2030,” added. The plans, Arab News reports, have been approved by the board of directors on June 13. They also approved investing SR153 million to secure parent poultry birds’ stock.
Almarai, according to its website, offers a vast product mix, encompassing dairy, juices, poultry, bakery, and infant nutrition.
Saudi diary giant Almarai eyes entry into seafood category with $67m investment
