A Brazilian food giant is planning to invest $120m in a new processing factory in the UAE, with operations slated to start late next year.
Brasil Foods said in a statement posted on its website that investment would be made in two phases and the factory would produce 80,000 tonnes of food once fully operational.
The company said in the statement that the Middle East was “strategic” to its international expansion plans.
The region is the main international market for Brazilian chicken, with the company's Sadia brand selling well.
According to the statement, the Middle East makes up 31.8 percent of Brasil Food exports.
Its products are currently exported to the UAE, Saudi Arabia, Egypt, Kuwait, Qatar, Bahrain, Iraq, Jordan, Lebanon and Iran.
The factory, the company said, “should be built in an important hub to consolidate its leadership position”.
Brasil Foods has a workforce of 113,000, making it one of the largest employers in Brazil. In 2010, it sold 5.7 million tonnes of product and reported net sales of more than $14 billion.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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