Almunajem Foods Co. announced the approval of its Board of Directors to establish a factory with a production capacity of 35,000 tons annually, to produce some poultry, red meat, seafood, and dairy products. The factory will be built on a land with total area of 56,000 sq.m in Jeddah?s 3rd industrial city.

Date of Board Resolution in Regard to the Project is April 28, 2024. Project Start Date is Third Quarter 2024, after obtaining the necessary approvals. Project Cost is SAR 157 Million approximately.

This project will be partly self-financed and partly from other external sources. Expected completion date of the project is First Quarter 2026. It is expected that the project will have a positive impact on the Company's results after commencement of operations.

Expected date for the commercial production of the project is First Quarter 2026.