Brazil’s BRF and HPDC Announce $ 160 Million Investment in New Food Plant in Saudi Arabia – Tradingview News – ryan
Brazilian Meat Processor BRF and the Halal Products Development Company (HPDC), a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), announced on Monday A $ 160 million investment in a new food plant in Saudi Arabia, Brf said in a statement.
The plant, scheduled to start operating in mid-2016, will be built in the city of Jeddah through the BRF Arabia Holding Company, a joint venture between brf and HPDC established in 2023.
Production will focus on processed foods with a capacity of approximately 40,000 metric tons per year.
Serving the saudi market is the initial priority, but exporting to other countries in the region is also a possibility, according to brf.
“The investment representations another consistent advance in our strategy of global presence and strengthens our operations in a highly strategic market,” BRF’s Chairman Marcos Molina Said in the Statement.
The New Facility Marks BRF’s Seventh Production Unit in the middle east and the third in Saudi Arabia.