Alraie CEO says Saudi red meat market 'growing', to up local production

Such growth paves the way for investors to strengthen local supply chains and leverage the move towards increasing local production and reducing dependence on imports, he told Argaam on the sidelines of the signing financing deal for the livestock breeding and fattening project.

Al-Jamaz said one of the key initiatives launched by Alraie is contracting with small breeders, providing them with genetically improved sheep, feed, and the necessary training. This should help them develop their production capabilities and improve the sector’s efficiency.

Alraie is one of the most promising companies in the red meat and food security sector in Saudi Arabia. It was established through a partnership between NADEC and Al Muhaidib Group, aiming to develop the sheep and goat industry and upgrade production quality to match international standards, said Al-Jamaz.

He indicated that the signing of the financing agreement with the Agricultural Development Fund (ADF) will accelerate the company's plans and expand its production operations by developing slaughtering, cutting, distribution and logistics facilities, ensuring higher efficiency and better quality.

The CEO also pointed out that the company relies since its inception on innovation and advanced technology in its operations, through the use of clean energy, waste management technologies and minimizing waste. This helps reduce operating expenses and, in turn, reflects positively on the end prices to consumers upon project completion.

He expects that Alraie will have a key role in achieving food security in Saudi Arabia and boosting local production in modern and sustainable ways.

According to data available with Argaam, NADEC said today, March 24, that its subsidiary, Alraie, signed a financing agreement with ADF with a ceiling of SAR 1.1 billion.

The funds will be used to establish a project focused on intensive livestock breeding (sheep and goats), reproduction, and meat production. The amount will be disbursed in stages based on the project's progress and the submission of required documents.