10 Muharram 1446 - 16 July 2024
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Eye of Riyadh
Business & Money | Tuesday 20 February, 2024 9:41 am |

Balady Poultry pens SAR 26.3M contract with Chinese firm to set up feed plant

Balady Poultry Trading Co. (Balady Poultry) signed, on Feb. 19, a contract with China-based FAMSUN Group Co. Ltd. to establish a feed production plant, which will include three poultry feed production lines, at a total cost of $7 million or SAR 26.3 million.


In a statement to Tadawul, the company said that the contract term is 508 days. The new plant will have a capacity of 60 tons per hour, and will consist of corn storage silos in Khamis Mushait, at Wadi bin Hashbel City.


This contract aims to enhance the company's self-sufficiency in terms of the production of poultry feed and reduce costs with the continuity of the supply of feed to the company's farms and ensure the quality of feed.


The financial impact cannot be determined at this stage and any significant developments will be announced in due course, the statement added.


Meanwhile, Balady Poultry stated that the production of feed is part of its strategy to promote the poultry farming sector and provide the finest types of concentrated feed at the lowest cost to advance the progress and economic development and keep pace with the aspirations of the Vision 2030.





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