BAJAJ BROKING
LT Foods inaugurates a new office in Riyadh to capture part of the $2 billion rice market in Saudi Arabia, aligning with its global expansion strategy.
LT Foods has officially announced its expansion into the Saudi Arabian market with the opening of a new office in Riyadh. This strategic move is aimed at tapping into the Kingdom's burgeoning $2 billion rice and rice-based food market. The inauguration marks a significant step in the company's ongoing efforts to extend its global reach and enhance its presence in new geographies.
LT Foods targets Saudi Arabia’s $2 billion rice market.
Plans to invest SAR 185 million in local operations over five years.
Aims for SAR 435 million in revenue from Saudi operations by 2028.
Also read: Zomato's ₹8,500 Crore QIP Starts; Floor Price ₹265
With the establishment of its Riyadh office, LT Foods is set to revolutionise the rice market in Saudi Arabia. This new office will serve as the regional hub for the company's operations, facilitating the distribution of authentic and premium rice products that cater to the tastes and culinary traditions of Saudi consumers.
Also read: New India Assurance Gains ₹1,945 Crore in Tax Refunds
LT Foods has committed to a substantial investment in the Kingdom, outlining plans to inject SAR 185 million into warehousing, stocks, and human resources over the next five years. This investment is expected to propel the company towards achieving a projected revenue of SAR 435 million within the same timeframe. The table below provides an overview of LT Foods' investment and revenue goals in Saudi Arabia:
Year | Investment (SAR Million) | Projected Revenue (SAR Million) |
2024 | 37 | 87 |
2025 | 37 | 87 |
2026 | 37 | 87 |
2027 | 37 | 87 |
2028 | 37 | 87 |
With the Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic shareholder, LT Foods is also preparing to establish local manufacturing facilities within Saudi Arabia. This partnership underscores the strategic nature of LT Foods’ expansion efforts and its commitment to integrating deeply into the local market.
The opening of the new office in Riyadh is more than just a physical expansion—it is a strategic move that positions LT Foods to significantly impact the rice market in Saudi Arabia. This development is likely to enhance the LT Foods share price, reflecting the company’s robust growth trajectory and its potential for increased profitability in a new and dynamic market. This initiative not only aligns with LT Foods’ global expansion objectives but also highlights its commitment to adapting its offerings to meet regional demands and preferences.
Also read: Cabinet Waives Bank Guarantees for Telcos, VodafoneIdea Benefits
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Gold Rate Today | 15 January 2025 | Gold Price in India
15 Jan, 2025 | 40 Min. read
Delhi Court Discharges JSW Steel in Corruption Case; HC Clears Monnet Takeover
15 Jan, 2025 | 2 Min. read
IRFC Emerges L1 Bidder to Finance ₹3,167 Crore for Banhardih Coal Block
15 Jan, 2025 | 2 Min. read
Cipla’s Tax Demand Reduced to ₹559.18 Crores After Revision
15 Jan, 2025 | 2 Min. read
Govt Plans 5-6% Hike in Highway Budget for FY26 After FY25 Slump
15 Jan, 2025 | 2 Min. read
Rikhav Securities IPO- Key Objective & Deep Analysis
15 Jan, 2025 | 5 Min. read
HCL Tech expands partnership with Microsoft to transform contact centres
14 Jan, 2025 | 2 Min. read
BEL secures new orders worth Rs 561 crore, boosting FY25 order book
14 Jan, 2025 | 2 Min. read
ITI Ltd secures Rs 64 crore contracts for Wi-Fi and CCTV systems
14 Jan, 2025 | 2 Min. read
JSW Energy secures LoI for 3.6 GW KSK Mahanadi power plant
14 Jan, 2025 | 2 Min. read
Biocon Biologics’ Johor Bahru Facility Receives FDA VAI Classification
13 Jan, 2025 | 2 Min. read
Interarch Secures ₹221 Crore Projects in Semiconductors & Energy Storage
13 Jan, 2025 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading