Brazil’s BRF to form halal meat joint venture with Saudi Arabia’s PIF
Oct, 24, 2022 Posted by Gabriel MalheirosWeek 202242
Brazilian food processor BRF SA said on Monday, October 24, it has agreed to form a Saudi joint venture with Halal Products Development Company (HPDC) in a bid to develop the halal meat industry in the Middle East country.
BRF, which will own up to 70% of the joint venture, said the new company will have a combined investment of $500 million.
The venture will operate in the entire chicken production chain in Saudi Arabia and sell fresh, frozen, and processed products, the Brazilian firm added. HPDC is a subsidiary of Saudi Arabia’s Public Investment Fund (PIF).
Source: Reuters
To read the full original article, please go to: https://www.reuters.com/markets/commodities/brazils-brf-form-halal-meat-joint-venture-with-saudi-arabias-pif-2022-10-24/
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