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FINANCIAL NEWS
Saudi Almarai buys USD47.5 m area in Arizona
10 Mar 2014
(MENAFN) Almarai has purchased 9.834 acres of farmland in Vicksburg, Arizona, US last week, according to Arab News.
The purchased area includes 3,604 acres of freehold land, 3080 acres of agriculture lease hold land and 3,150 acres of grazing lease hold land.
Almarai will pay as much as USD47.5 million for the area, and will finance the purchase from its own resources.
Through the purchase, Almarai’s aims to improve and secure its supply of the highest quality alfalfa hay from outside the Kingdom to support its dairy business.
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