NADEC board approves strategy until 2027

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National Agricultural Development Co. (NADEC) 's board of directors approved the company's strategic plan until 2027 in a meeting held on Dec. 5, the company said in a statement to Tadawul.

The plan aims to strengthen the company's leading position across its main activities at the local and regional levels to enable the growth of its current business. 

The main pillars of the strategic plan include expansion into new markets; geographical expansion and enhanced innovation and product development capabilities; infrastructure investment; introducing cutting-edge technology to the food and beverage industries; focus on efficiency, cost management, and consistently high quality; adopt clean and green energy, and improve the capital structure in line with the strategy and funding requirements.

The strategy's main objective is to make NADEC products the preferred choice in Saudi Arabia and Gulf countries through its leadership in the dairy, juice, food, and agricultural products markets.

It will lead to development and innovation through traditional and modern trade channels, as well as food services; strengthen the main operating sectors and increase food revenues; efficiency and sustainability and reduce the actual cost of financing through diversification of sources.

Any material developments in this regard will be announced later, the statement said.