SAGIA issues investment license to Brazilian food firm for chicken processing plant

08/12/2019 Argaam

 

Saudi Arabian General Investment Authority (SAGIA) handed over an investment license to Brazilian food manufacturing company, BRF, to invest in a chicken processing plant, it said on its official Twitter account.

 

In October 2019, BRF signed a memorandum of understanding (MoU) with SAGIA to invest $120 million (SAR 450 million) in a chicken processing plant in the Kingdom.

 

BRF began exporting meat and poultry products to the Middle East in the 1970s.

 

In January this year, the firm announced that it planned to restore chicken exports to Saudi Arabia to previous levels after one of its plants lost its certification to export to the Kingdom.

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