Saudi-listed National Agricultural Development Company (Nadec) has approved a strategic business plan for 2027-2031 that includes planned capital investments of about SAR5 billion ($1.33 billion) to expand its food businesses and improve operational efficiency.

The plan aims to support growth in the company's core food sectors, expand its protein and advanced agriculture businesses, and boost the efficiency of production and commercial operations.

Nadec said the strategy would build on infrastructure, operational and commercial capabilities developed over recent years, as well as its existing strategic partnerships.

The next phase will focus on leveraging existing and commercially available assets, developing value-added products and strengthening its core businesses, while establishing foundations for sustainable growth.

Unveiling the strategic business plan, Chairman Abdulaziz Saleh Al Rabdi said: "This plan reflects our ambition to build a leading national company in the food and agriculture sectors, which is more robust and resilient to challenges, in line with Saudi Vision 2030 and the Kingdom's long-term priorities in the field of food security."

"Enhancing local production, securing supply chains, and increasing our resilience to external shocks are key pillars that ensure Nadec continues to play its role in providing staple foods as a trusted company," he stated. 

"We seek to create long-term shareholder value through discipline in execution, solid governance, and good capital allocation, as well as supporting consumers and local communities, and contributing to enhancing the Kingdom's economy's ability to meet challenges and support its prosperity," he added.

CEO Dr Sulaiman bin Abdulaziz Al Tuwaijri said Nadec has laid the foundations to offer a wider range of staple food products to consumers and business customers. 

"The plan includes capital investments worth around SAR 5 billion, as well as a focus on commercialising our capabilities and expanding our business. We will strengthen our core business, capitalize on the commercial momentum of the protein sector, and develop our offerings in the agriculture sector to achieve further excellence," he stated. 

"This is part of our ongoing commitment to supporting the Kingdom's food security ecosystem by enhancing local production, contributing to the diversification and sustainability of food supply sources, and innovating in developing products that meet the changing needs of the market," he noted. 

"By enhancing the integration of our business sectors and increasing productivity across our operations, we seek to leverage our investments to achieve sustainable growth, enhance our competitiveness, and generate long-term returns," he added.-TradeArabia News Service