Addoha Poultry plans to list shares on Saudi market after completing expansions: Exec

Saleh Al-Mulhem, Deputy CEO of Addoha Poultry Co.

Addoha Poultry Co. plans to list shares on the Saudi market at the proper time after completing its expansion plans and reaching the required maturity stage, Deputy CEO Saleh Al-Mulhem told Argaam.

In an interview on the sidelines of the 2024 Middle East Poultry Expo, he added that the company currently boasts an annual production capacity of 45 million birds, which it seeks to raise to 65 million birds in Q1 2025, and reach 120 million birds annually in 2030, under its five- and 10-year expansion plans.

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When asked about poultry prices, Al-Mulhem pointed out that they are logical and reasonable in Saudi Arabia, suiting all segments of the society.

He further noted that the Saudi poultry sector is one of the key sectors to provide food security in the Kingdom, indicating that the government support provided through loans contributed to the establishment of the region's most high-quality projects in Saudi Arabia.

When incepted 35 years ago, Addoha Poultry found a need for this type of business activity, Al-Mulhem stated, indicating that local government support aided the sector’s empowerment and advancement.

Meanwhile, the deputy CEO stressed that the company seeks prosperous leadership in the future of poultry production in the Kingdom and the GCC. It aspires to contribute to raising poultry self-sufficiency in order to achieve the Saudi Vision 2030’s food security goal.

Starting its business in the field of poultry in the Eastern Province in 1989, Addoha Poultry was officially launched and established in 2008. It currently boasts an annual production capacity of 45 million birds.