Almarai buys Saudi riyal 178m agricultural land in USA

Almarai company completed last Thursday buying an agricultural land in Vicksburg Arizona of the United States of America with a total area of 9,834 dunums. The transaction was made through Almarai' subsidiary which holds the brand "Fondaumente Arizona Limited" company. Almarai owns shares of Arizona Limited" company by 100%. The total value of the transaction amounts to $ 47,5 million, equivalent to about 178 million Saudi riyals, which will be funded from Almarai Company's own resources. In an advertisement published today on the Financial Stock Market "Tadawul", Almarai announced that the goal of this initiative is the cultivation of alfalfa and import it to meet the needs of its projects in the Kingdom of Saudi Arabia, in continuation with the company's approach in the conservation of natural resources.