LT Foods Eyes Saudi Arabia as Key Market for Growth

LT Foods is expanding into Saudi Arabia, aiming to capture a piece of its USD 2 billion rice and rice-based food market. With SALIC's support, the company will invest SAR 185 million over the next five years and aims to generate SAR 435 million in revenue. Their new Riyadh office is key to this strategy.

LT Foods, a notable entity in the basmati and specialty rice industry, has announced its entry into Saudi Arabia, targeting the USD 2 billion market for rice and rice-based food products.

Supported by the Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic shareholder, LT Foods plans to establish local manufacturing in the Kingdom. The company aims to invest SAR 185 million over the next five years, focusing on warehousing, inventory, and staffing, with a projected revenue of SAR 435 million.

The company's move aligns with its global expansion strategy, seeking to tap into the growing demand for premium rice offerings. Chairman & Managing Director Vijay Arora emphasized LT Foods' success in other markets and expressed excitement about the brand's prospects in Saudi Arabia.

(With inputs from agencies.)