Brazil’s BRF and Saudi Arabia’s PIF form halal meat joint venture
Brazilian food processor BRF SA said on Monday it has agreed to form a Saudi joint venture with Halal Products Development Company (HPDC) in a bid to develop the halal meat industry in the Middle East country.
BRF, which will own up to 70% of the joint venture, said the new company will have a combined investment of $500 million.
The venture will operate in the entire chicken production chain in Saudi Arabia and sell fresh, frozen and processed products, the Brazilian firm added. HPDC is a subsidiary of Saudi Arabia’s Public Investment Fund (PIF).
Read also
Vessels heading to Ukrainian ports to again transit Sulina under USPA queue
Coffee production in Colombia fell by 23% due to weather-related issues.
Ukraine increases imports of lard and animal fats by a third
EU responds to Ukraine’s request for €220 mln in aid for farmers amid port blockade
Russia may restrict corn exports with quotas in 2027
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon