October 29, 2019 / 12:00 PM / 19 days ago

Brazilian food processor BRF signs MOU to invest $120M in Saudi plant

BRASILIA, Oct 29 (Reuters) - Brazilian food processor BRF SA said on Tuesday it has signed a memorandum of understanding with the Saudi Arabian General Investment Authority to invest around $120 million to build a chicken processing plant in the country.

“The company estimates the investment amount to be around $120 million, which will allow BRF to expand and consolidate its presence in the Saudi market,” BRF said in a securities filing. (Reporting by Jamie McGeever, editing by Louise Heavens)

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