Saudi Arabian Halal Product Development Company (HPDC) and poultry exporter BRF have announced the signing of a Joint Venture Agreement (JVA).
The deal aims to set up a joint venture in the Kingdom with the aim of increasing production capacity along the value chain of the poultry sector and helping to localize production capacity for halal products.
The company will operate across the poultry production chain in Saudi Arabia, increasing competition in the region.
Furthermore, it will help achieve the domestic target of 80 percent self-sufficiency in poultry by 2025, reducing dependence on imports and localizing technology and knowledge within the kingdom, the statement said.
This week, Saudi Arabia’s sovereign wealth fund Public Investment Fund announced the launch of his HPDC to invest in the localization of the Kingdom’s halal manufacturing industry.
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