Agthia Group, one of the region’s leading food and beverage companies, approved on Monday an AED 90 million investment for the construction of a manufacturing facility for Nabil, one of Agthia’s protein brands, in Jeddah.Â
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 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.
“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,” Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said. .