Jedaya Agricultural Company Signs Contract for Poultry Production
Mayar Holding Company announced that one of its subsidiaries ,Jedaya Agricultural Company, has signed a SAR10.8 million contract to purchase a poultry project for the production of broiler chicken, reported Economy Today.
The company announced in a statement on Sunday that Jedaya Agricultural Company and the seller – Mohammed bin Abdul Rahman bin Mohammed bin Saleh concluded the deal on Thursday, January 25, 2024.
The subsidiary company intends to enter and gradually expand in the poultry farming sector for broiler chicken production. It aims to diversify the company’s activities.
The project includes owned land, breeding pens, operating equipment, and poultry breeding supplies. Moreover, it covers an operational agricultural project license from the Ministry of Environment, Water, and Agriculture.
The project is located in Shaqra Governorate in Riyadh, covering an area of 93,100 square meters.
Jedaya Agricultural Company will own the entire project and 100% of its assets.
Furthermore, the company said that SAR 700,000 will be paid upon signing the contract and receiving the site. The remaining amount of SAR 10.1 million will be paid upon completing ownership transfer of the project’s assets and renewing and modifying the agricultural license.
Poultry Production Farm
Moreover, the Brazilian company “JBS” plans to establish a meat and poultry production farm in the Al-Qassim region. The investments may exceed two billion dollars.
JBS is the world’s largest poultry and meat company.
Wesley Batista, the Chairman of JBS, stated that KSA is one of the largest markets in the Middle East that consume meat and poultry, reported the Saudi Post.
The future factory will not only serve the Saudi market but also the neighboring markets.
The chairman affirmed that they have received many incentives to support and facilitate their entry into the Saudi market.
He also clarified that he has conducted discussions with several officials on the sidelines of the World Economic Forum in Davos.
The discussions aimed to explore new opportunities and the nature of these incentives.
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