BRF of Brazil has reported the purchase of 26 percent of the equity in the Saudi Addoha Poultry Company for $84 million. This follows investment of $500 million in broiler processing and food production enterprises in collaboration with the Saudi Public Investment Fund.
Saudi Addoha produces 45 million chickens annually with a planned expansion to 65 million in the coming year.
Saudi Arabia imports 200,000 tons of processed poultry from Brazil each year, justifying expansion of domestic production.