The global food producer JBS acquired an 80% stake in a new food holding in Omanthe Brazilian company reported this Sunday (8), expanding its presence in a fast-growing market that has historically depended heavily on food imports.
The world’s largest meat company is investing US$150 million to produce chicken, lamb and beef at two plants in Oman.
JBS CEO Gilberto Tomazoni told reporters the company needs to develop a supply chain in the Middle East, adding that it will raise its own chickens and plans to buy cattle and lamb from producers in Oman and North Africa.
JBS’s beef and lamb unit in Oman already exists, but has been idle for about a year, according to Tomazoni.
Production should begin in six months for beef and lamb, and in a year for poultry.
A Oman Food Capital (OFC)a JBS partner, will maintain a 20% stake in the joint venture. The companies hope to reach an annual production capacity of around 300 thousand tons.
JBS factories in Oman will process approximately 1,000 head of cattle, 5,000 lambs and 600,000 chickens per day.
Large Brazilian food companies have been expanding their presence in the Middle East, where food security has become a central issue after the Covid-19 pandemic disrupted global supply chains.
JBS already processes meat in and United Arab Emirateswhile its competitor MBRF has strengthened partnerships in the region as it plans a public offering in Riyadh.
The JBS initiative also reduces potential impacts of global trade tensions by building integrated facilities in
