Leading food and beverage company, the Agthia Group, has approved a greenfield investment of $24.5 million for the construction of a manufacturing facility for Nabil, one of Agthia’s protein brands, in Jeddah. The first sales from the new facility are expected in the second half of 2023.
The project will extend Agthia’s position in the KSA – the Gulf’s largest and fastest-growing consumer market – and support the company’s aim of becoming a leader in the MENA consumer packaged goods sector, in response to strong demand from local customers.
The project, which is in response to strong demand from local customers, will further strengthen Agthia’s footprint in the KSA
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, explained: “Agthia’s greenfield investment in the Kingdom of Saudi Arabia will 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.”
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