Almarai is to spend SAR4bn (US$1.1bn) on expanding its poultry business

Almarai is to spend SAR4bn (US$1.1bn) on expanding its poultry business

Saudi dairy group Almarai has revealed plans to spend SAR4bn (US$1.1bn) on expanding its poultry business, according to reports.

The investment, the firm's board of directors said yesterday (21 June), is part of the company's long-term vision, the Gulf Times reported.

"The increase in investment will position the company to take full advantage of the opportunity within the poultry market," the groupsaid. "This investment will start to deliver benefits in the course of 2012 and will be financed through cash flow and is in the line of company's objectives."