Riyadh – Mubasher: Balady Poultry Company has signed two land lease agreements with the Ministry of Environment, Water and Agriculture for 19 years, renewable for similar periods.
The two land plots span 27.70 million meters and 23 million meters in Wadi Al-Dawasir governance, according to a bourse disclosure.
Balady Poultry secured the two lands at an annual rent of SAR 222,619 and SAR 190,274, respectively.
The deals aim to invest in the production of broiler chickens, with a part of the barns devoted to the production of broiler chickens with large weights.
Meanwhile, the company plans to establish poultry and meat farms with international standards and specifications that meet its current and future needs while enhancing production quality.
It raises production efficiency rates and biosecurity applications, enabling it to double the volume of its poultry business and expand the range of its products to satisfy the desires of the largest segment of consumers.
This investment is an important step as part of the company's announced strategy to expand the poultry business with investments exceeding SAR 1.14 billion. It will achieve a good rate of return that will be positively reflected on the company's financial statements after its operation.
