Ukrainian and Saudi companies have jointly invested over $50M in poultry in the Poultry Value Chain in Saudi Arabia.

As reported on the website of the London Stock Exchange, the largest Ukrainian chicken producer, MHP, concluded a joint venture agreement with Desert Hills Veterinary Services Company Limited, a leading supplier of poultry meat and other meat products in the Middle East.

“This partnership will allow DHV and MHP to join forces to invest more than 200 million Saudi riyals (almost $53M) in farms with a parent herd capacity of more than one million birds,” the statement said.

It is noted that DHV will own 55% of the shares, and MHP will own 45% of the shares in the joint venture. This year, MHP and DHV signed a memorandum of understanding, cementing their partnership to join forces in developing farms with a capacity of more than one million birds, producing almost 175 million hatching eggs yearly. Also, a modern poultry incubator and a compound feed plant will be created in Saudi Arabia.