Riyadh –  The board of Almarai Company has approved a plan to invest in a branded local beef category with an initial value of SAR 250 million.

To be financed from Almarai's operating cashflows, the investment plan aims to build a new end-to-end production plant from a slaughterhouse to a butchery delivering retail ready-packaged branded meat, according to a recent bourse filing.

The company will benefit from its young cattle supply and the route to market infrastructure to achieve the plan, subject to the approval of several regulatory authorities.

Source: Mubasher

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