Riyadh - Mubasher: Food Development Company (Tanmia) announced that its subsidiary, Agricultural Development Company, has signed a contract with Al-Dajen Poultry Company Limited to purchase a new primary processing plant and land in Saudi Arabia at a value of SAR 143 million.

The company explained in a statement on the "Tadawul" website, today, Sunday, that the deal aims to increase the company's net production capacity in 2025, in line with its strategic expansion plans.

She pointed out that the new primary processing plant will increase the company's net production capacity, in addition to supporting the company's sustainability initiatives, including a new waste management facility and a water treatment plant. The additional land area will also be used to plant trees, in accordance with the sustainability initiative of the development company.

On November 19, the company announced that its subsidiary, Agricultural Development Company Limited, had obtained long-term, revolving credit facilities from the Saudi National Bank, in compliance with Islamic law, worth 650 million riyals, to support strategic expansion plans and meet working capital needs .