JBS to Establish Meat, Poultry Production Farm in Al-Qassim

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 Saudi Arabia is one of the largest markets in the Middle East that consume meat and poultry, reported the Saudi Post.

Batista explained that the future factory will not only serve the Saudi market but also part of the production will be exported to neighboring markets.

The chairman affirmed that they have received many incentives to support and facilitate their entry into the Saudi market.

He clarified that he has conducted discussions with several officials, including Khalid Al-Falih, the Minister of Investment, on the sidelines of the World Economic Forum in Davos.

The discussions aimed to explore new opportunities and the nature of these incentives.

Brazilian President’s Remarks

 

The Brazilian President Lula da Silva said – a few weeks ago – that the history of relations between Saudi Arabia and Brazil will witness a distinctive turning point as a result of his meeting with Crown Prince Mohammed bin Salman in Riyadh.

Silva added that his visit to Riyadh ” did not only aim at attracting Saudi investments to his country. It also aimed to explore investment opportunities for Brazilian companies in the Kingdom.”

“This is the second time I visit the Kingdom. My first visit was in 2009. At that time, we had trade relations worth one billion dollars, and today it has reached eight billion dollars,” added the president.

The volume of trade between Saudi Arabia and Brazil increased by 44% in 2022 compared to the previous year, according to the General Authority for Statistics.

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