Agthia Group Board of Directors approve further expansion in KSA through a Greenfield Investment
Abu Dhabi, UAE: Agthia Group PJSC, one of the region’s leading meals and beverage corporations, held a Board Meeting nowadays to explore and approve vital small business choices, which include a greenfield investment in Saudi Arabia.
The Board of Administrators permitted an AED 90 million expense for the development of a producing facility for Nabil, one particular of Agthia’s protein models, in the city of Jeddah. CAPEX investing is predicted to start off in the coming months, with to start with income from the new facility envisioned in H2 2023.
The challenge, which is in reaction to powerful demand from customers from community customers, will additional strengthen Agthia’s footprint in the KSA – the Gulf’s biggest and 1 of the speediest developing client marketplaces, and assistance the company’s tactic of turning out to be 1 of the leaders in the MENA shopper packaged products sector.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Team, explained: “Agthia’s greenfield investment decision in the Kingdom of Saudi Arabia would help substantial development towards our prolonged-term profitability focus on and our dedication to provide on our expansion tactic to become a regional leader by 2025”.
Alan Smith, Chief Government Officer of Agthia Team, claimed: “Nabil Foods has a properly-proven business enterprise in KSA. This financial investment will allow for us to additional drive the expansion of our protein vertical whilst offering the correct product or service high quality compliant with local polices. The internet site structure will also give us the ability and flexibility to satisfy foreseeable future market place advancement opportunity and will eliminate any long term replacement charge in scenario of expansions.”.
Agthia Team (ADX:AGTHIA) is a main Abu Dhabi primarily based meals and beverage firm set up in 2004. The Company’s property are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey and Jordan. Agthia offers a world course portfolio of integrated enterprises providing high high-quality and reliable food and beverage solutions for buyers throughout the UAE, GCC, Turkey and the broader Middle East. Additional than 9,300 employees are engaged in the producing, distribution and internet marketing many products in categories these kinds of as: Consumer Business (Al Ain Drinking water, Al Bayan, Alpin Purely natural Spring Water, Ice Crystal, VOSS, Al Ain Tomato Paste, Al Ain Investing Things) Snacking (Al Foah, Yoplait, Al Faysal Bakery & Sweets, BMB) Proteins and Frozen (Nabil Foods, Atyab, Al Ain Frozen Vegetables) and Agri Company (Grand Mills, Agrivita).
For far more data, make sure you visit www.agthia.com or email [email protected]
Eman Salem, [email protected]