Saudi Arabia food producer Almarai Co. has said it intends to expand its presence in the domestic poultry market for the remainder of 2011, according to reports.
The company's board approved an investment of 4 billion riyals (US$1.07 billion) in poultry, doubling its initial allocation of 2 billion riyals (US$533 million). The investment “will position the company to take full advantage of the opportunity within the poultry market,” according to Almarai. The company plans to focus on Saudi Arabia for the rest of the year, with no plans to expand into other Middle East countries.
