Almarai, a $4.2 billion (€4 billion) Saudi-Arabian multinational dairy company listed on the Saudi stock exchange, is planning to enter the seafood sector with an initial investment of SAR 252 million (€63.8 million/$67 million).
Its plan includes establishing industrial facilities for processing seafood. The project will be financed internally from the company’s operating cash flows after obtaining the necessary approvals from the regulatory authorities.
"The company in this new sector will expand Almarai’s product offering and contribute to the food security plan," CEO Abdullah bin Nasser Al-Badr said.
