Abu Dhabi's Agthia to invest Dh90m in Saudi Arabia for protein food production
Dh90m investment in Jeddah production facility sees Agthia rev up overseas reach
Dubai: Abu Dhabi’s Agthia, the food company, is taking another step towards regional expansion, confirming a Dh90 million investment in a food processing facility in Saudi Arabia. Until now, Agthia had focussed on acquisitions of region food brands to drive its growth, but the push into Saudi Arabia takes it further.
The Dh90 million production facility in Jeddah will be for the ‘Nabil’ range of protein brands. The spending is expected to start shortly and the first sales from the new facility expected to start second-half of 2023.
The project ‘will further strengthen Agthia’s footprint in Saudi Arabia – the Gulf’s largest and one of the fastest growing consumer markets, and support the company’s strategy of becoming one of the leaders in the MENA consumer packaged goods sector’.
According to Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia’s greenfield investment in the Kingdom would enable significant progress towards our long-term profitability target and our commitment to deliver on our growth strategy to become a regional leader by 2025”.
Nabil Foods already has a ‘well-established business’ in the Kingdom. Agthia has in the last two years been acquiring regional food brands to stew up further growth in its ambitions to be one of the biggest names in the region's F&B space.