HPDC, BRF sign JV to spur halal poultry production in Saudi Arabia HPDC, BRF sign JV to spur halal poultry production in Saudi Arabia
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HPDC, BRF announce JV to spur halal poultry production in Saudi Arabia

HPDC, BRF announce JV to spur halal poultry production in Saudi Arabia

The joint venture will increase local capabilities in halal food production and help develop Saudi Arabia’s poultry sector value chain

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Saudi Arabia’s Halal Products Development Company (HPDC) and poultry exporter BRF announced the signing of a joint venture agreement (JVA).

The agreement aims to establish a JV company in the kingdom which would be mandated to increase the production capacity along the poultry sector value chain, and contribute in localising manufacturing capabilities of halal products.

The company will establish operations for the whole poultry production chain in Saudi Arabia and bolster local competition. Additionally, it will contribute to meeting the domestic target of 80 per cent poultry self-sufficiency by 2025, reducing reliance on imports as well as localising technology and knowledge within the kingdom, a statement said.

This week, Saudi’s sovereign wealth fund, Public Investment Fund announced the launch of HPDC, which will invest in localising the halal production industry in the kingdom.

Read: Saudi Arabia’s PIF launches company to develop halal production industry

The JV company is in line with the sovereign wealth fund’s strategy, which focuses on developing and enabling the capabilities of 13 key sectors and sub-sectors, including the consumer goods and retail/food and agriculture sector, and achieving a sustainable domestic food production system, the statement added.

Also read: State of the global Islamic economy: Eyeing new frontiers

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