Hail red meat project part of pipeline to boost red meat production: ADF CEO

Logo of Agricultural Development Fund (ADF)

The Agricultural Development Fund (ADF) has been and continues to be a major supporter of food security and rural development in various regions of Saudi Arabia, CEO Munir Al-Sahli told Argaam in an interview.

The signing of the financing agreement for the sheep-beef farming project in Hail today, March 24, under which a farm specialized in red meat production will be established at SAR 1.1 billion, came within the framework of the National Agriculture Strategy. It is aimed at promoting food security, creating job opportunities, and boosting local content, Al-Sahli stated.

Saudi Arabia has successfully achieved 61% self-sufficiency in red meat production, thanks to the government's great support for the food security sector, said the top executive. He also noted that the Hail red meat project is part of a project pipeline aimed at supporting local red meat production, thus raising self-sufficiency and stabilizing prices in local markets.

He added that this project represents a huge investment opportunity. It is set to contribute to the development of supply chains and will provide contractual opportunities for small breeders by bolstering their access to more sector-related areas of expertise.

Moreover, the project will rely on Saudi-made equipment, which enhances local content in the agricultural sector, the CEO pointed out.

ADF continues to support modern technologies and innovation in the agricultural sector for raising more financing for projects that rely on advanced tech. It also strives to spread their use among breeders to enhance production efficiency, according to Al-Sahli.