Abu Dhabi – Mubasher: Agthia Group opened a new protein manufacturing facility at the Industrial City 1 in Jeddah, Saudi Arabia, according to a press release.
This strategic investment aligns with Agthia's commitment to Saudi Vision 2030 to bolster the Kingdom’s food and beverage (F&B) market. It also anchors the group’s long-term strategy of reinforcing itself as one of the leaders in the sector in the MENA region.
Alan Smith, CEO of Agthia, commented: “Our investment in this manufacturing facility in KSA underscores Agthia Group's unwavering commitment to creating value for our stakeholders and establishing ourselves as the foremost player in the F&B industry across the MENA region by 2025.
“By bolstering our presence in KSA's rapidly expanding processed meat market, we are not only reinforcing our market position but also contributing significantly to the diversification and growth of our regional product portfolio,” Smith added.
With an investment of AED 90 million, the new facility spans more than 9,000 square metres and is developed to achieve an annual production capacity of over 9,000 tons.
Declan Bennett, President of Agthia’s Protein Business, commented: “This comprehensive setup enables Agthia to offer a robust product portfolio tailored to the evolving needs of the Saudi market.”
“This strategic investment addresses the rising demand for our protein and frozen products within the Kingdom, positioning us to effectively meet both current and future market requirements,” Bennett continued.
Ramy Merdan, Chief Operating Officer of Agthia, noted: "This advancement not only reaffirms our standing as a trusted leader in the Saudi processed meat market but also creates scope for further efficiencies in our overall supply chain performance.”
In the first quarter (Q1) of 2024, the UAE-based group recorded an annual jump in net profit after tax to AED 127.59 million, compared to AED 96.69 million.
