Agthia Group Board of Directors Approves Further Expansion in Saudi ArabiaSource: www.export-egypt.com 5/30/2022, Location: Middle East |
|
|
|
|
|
Agthia Group PJSC, one of the region’s leading food and beverage companies, held a Board Meeting today to discuss and approve key business decisions, including a greenfield investment in Saudi Arabia.
The Board of Directors approved an AED 90 million investment for the construction of a manufacturing facility for Nabil, one of Agthia’s protein brands, in the city of Jeddah. CAPEX spending is expected to start in the coming months, with first sales from the new facility expected in H2 2023. The project, which is in response to strong demand from local customers, will further strengthen Agthia’s footprint in the KSA – 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. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: "Agthia’s greenfield investment in the Kingdom of Saudi Arabia 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. Alan Smith, Chief Executive Officer of Agthia Group, said: "Nabil Foods has a well-established business in KSA. This investment will allow us to further drive the growth of our protein vertical while offering the right product quality compliant with local regulations. The site design will also give us the capacity and flexibility to meet future market growth potential and will eliminate any future replacement cost in case of expansions." |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
