Agthia launches $25m facility in Saudi to bolster presence 

UAE-based food and beverage company Agthia Group has launched a manufacturing facility in Saudi Arabia, the largest economy in the GCC. 

The new 90-million-dirhams protein manufacturing facility in Jeddah’s Industrial City 1 will help address the growing demand for its protein products in the kingdom.

The facility spans over 9,000 sq m and will have an annual production capacity of more than 9,000 tons.

“The launch of this new facility highlights the group's strategic initiative to tap into the immense growth potential of the largest market in the GCC region,” the company said in a bourse filing. 

The kingdom’s processed meat market is expected to reach $7.11 billion by the end of the decade, reflecting a compound annual growth rate of 5.49%, the company added. 

“By bolstering our presence in the kingdom'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,” said Agthia Group CEO Alan Smith.

Agthia reported a group net profit of 127.6 million dirhams for Q1 2024, up 32% year on year.