Riyadh – Mubasher: The board of Almarai Company has approved a plan to invest in a branded local beef category with an initial value of SAR 250 million.
To be financed from Almarai's operating cashflows, the investment plan aims to build a new end-to-end production plant from a slaughterhouse to a butchery delivering retail ready-packaged branded meat, according to a recent bourse filing.
The company will benefit from its young cattle supply and the route to market infrastructure to achieve the plan, subject to the approval of several regulatory authorities.
