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Tanmiah Food Company (TADAWUL: 2281), a leading poultry provider in Saudi Arabia, has signed a Memorandum of Understanding with MHP SE (LSE: MHPC), a top European poultry producer, to form a joint venture. This initiative aims to enhance local poultry production and food security in line with Saudi Vision 2030. The joint venture will include the establishment of a hatchery capable of producing 108 million hatching eggs annually and feed milling with a target of 137 thousand tonnes per year. The project will be primarily funded by the Agriculture Development Fund of Saudi Arabia, subject to regulatory approvals.
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