Supporting the Saudi Arabia's food security and self-sufficiency objectives
Saudi Arabia-based Tanmiah Food Company, an established market leader in the provision of poultry and other meat products, has entered into a Memorandum of Understanding (MoU) with MHP, the leading European producer of poultry. The agreement is the first step in establishing a joint venture between Tanmiah's wholly owned subsidiary, Desert Hills for Veterinary Services Company and MHP SE, the parent company of the leading international food & agrotech group headquartered in Ukraine.
Supported by the government of Saudi Arabia, and in line with the food security goals of Saudi Vision 2030, the MoU sets out the principles of establishing a joint venture with the aim of accelerating efforts to close the existing production gap in Saudi's domestic poultry sector.
The joint venture's primary focus will be developing and operating poultry breeding facilities and includes the establishment of a greenfield hatchery in Saudi Arabia to hatch 108 million hatching eggs per annum. It will also invest in feed milling facilities with the target of producing 137 thousand tonnes of feed per annum.
The initiatives will be primarily funded by the Agriculture Development Fund of Saudi Arabia. MHP is set to provide a wide spectrum of industry expertise across the value chain to capture the long-term opportunities and design the best-in-class facilities fully adapted to local market conditions.
