UPDATE 1-Brazil's BRF to invest $9.8 bln through 2030 -filing

·1 min read

(Adds details from separate press release)

SAO PAULO, Dec 7 (Reuters) - Brazilian food processor BRF SA said it will invest 55 billion reais ($9.8 billion) by 2030 to expand the business, in line with its estimate from a year ago, according to a securities filing on Tuesday.

The world's largest chicken exporter also said net revenues are projected to reach 65 billion reais a year by 2024 as it executes its growth plan.

BRF, which unveiled its "2030 Vision" a year ago, will review and discuss the company's targets at an event with analysts on Wednesday.

In the first year of the plan's implementation, investments were made in production units in Brazil which have led to a 30% increase in the production of high added value items, the company said in a separate press release.

BRF, which also processes pork and sells ready-made meals on the domestic market, is looking to expand its portfolio of alternative proteins, and now offers a 10-item plant-based line.

The company is also betting on the pet food market. After buying pet food companies Grupo Hercosul and Mogiana in Brazil, BRF is now among the country's top three companies in this segment, it said. ($1 = 5.6128 reais) (Reporting by Ana Mano; editing by Richard Pullin)

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