Almarai To Launch New Saudi Plants And Eyes Further Egypt Acquisitions

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Saudi Arabia's leading dairy company, Almarai, looks set to continue expanding at breakneck speed. Fresh from the July 2009 acqusitison of leading Saudi poultry company Hail Agricultural Development Company for about SAR950mn (US$253mn) and deals in Jordan and Egypt through its International Dairy and Juice Ltd (IDJ) joint-venture with PepsiCo, Almarai has announced further expansions. It plans to begin production at a new SAR650mn infant formula plant and a SAR200mn baked goods plant by the fourth quarter of 2010. Unlike the rest of the Gulf region, Saudi Arabia is not restricted by a small population, which plays into its fairly