Almarai signs a multimillion-Euro contract with JBT Marel for three advanced fish processing lines
The agreement marks the company’s first major investment in local seafood production.
SAUDI ARABIA – Saudi Arabia’s Almarai has entered the seafood sector by contracting JBT Marel to supply three modern fish processing lines in a deal worth several million Euros.
Installation of the processing lines is planned for late 2026 at Almarai’s new facility in King Abdullah Economic City, which will handle multiple fish species, including regional varieties, as part of national food security objectives.
The partnership follows three years of collaboration during which JBT Marel and Almarai developed processing lines tailored to the company’s operational needs and adaptable for future demand shifts.
Each line will incorporate advanced technologies designed to maintain product quality while reducing waste of raw materials and natural resources.
The processing lines will allow Almarai to produce salmon, white fish, and local species, supporting domestic supply and limiting the need for imports.
Skúli Sigurðsson, VP and GM Fish EMEA at JBT Marel, said the deal represents a collaborative effort that aligns with both companies’ operational goals.
Almarai, founded in 1977 as a dairy producer, has expanded into poultry, red meat, and now seafood, with its operations structured around large-scale, vertically integrated production.
Almarai Plans Share Repurchase Program
The company also announced plans to buy 10 million treasury shares under its long-term employee incentive program, financing the purchase from internal resources and excluding voting rights or dividends while held.
Almarai’s poultry segment began with the acquisition of Hail Agricultural Development Co. for about US$253 million in 2009-2010, and it currently processes around 263 million birds annually, generating record sales of US$1.0 billion (SAR 3.8 billion) in 2024.
The company holds approximately 33-35% of the retail poultry market and aims to increase annual production to over 450 million birds by 2027 through ongoing investments and strategic acquisitions.
Seafood operations, approved in June 2022 with an initial investment of US$67 million (SAR 252 million), focus on premium, omega-rich fish under the Seama brand and offer locally processed seafood products to diversify Almarai’s protein portfolio.
The King Abdullah Economic City facility, supported by contracts including the JBT Marel deal worth around US$74 million (SAR 276 million), forms the core of the company’s seafood production and aligns with broader objectives to strengthen domestic food production.
By expanding into seafood, Almarai aims to increase the local supply of nutritious proteins, complementing poultry and red meat operations while contributing to national goals for food security and self-sufficiency.
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