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UAE’s Agthia to complete Kuwait plant by 2017 end

UAE’s Agthia to complete Kuwait plant by 2017 end
(Photo Credit: Arabianeye-Reuters)
Agthia
AGTHIA
0.51% 5.90 0.03

By: Amr Adel

Dubai – Mubasher: Abu Dhabi-based Agthia will likely complete its water bottling plant in Kuwait by the end of 2017, the company’s vice for water, beverage, and dairy Fasahat Beg said Thursday.

The project, a joint venture with a Kuwaiti company, is progressing according to plan, the top executive told Mubasher on the sidelines of the Gulfood 2017 exhibition.

It will bring about the joint trademark of Al Ain in the Kuwaiti market, he added.

We have another Al Ain project to produce water in Saudi Arabia, Beg revealed, adding that work on the project will commence in the second quarter of 2017 after receiving the final regulatory approvals.

In November, Agthia announced signing an agreement to fully acquire Saudi-based Delta Water Factory Co, a step which will pave the way for the UAE-based food and dairy company to enter the Saudi market as part of its expansion strategy within the GCC.

The two projects are part of the Abu Dhabi-based company’s strategy until 2020, through which it aims to bolster the company’s presence as a leader in the food and beverage segment in the Middle East, Beg highlighted.

Agthia Group has a 25% stake in the UAE’s bottled water segment, while its market share of consumer products, including juices and water, is around 40%, according to Beg.

We are currently considering the launch of 14 group-owned new trademarks, which will boost the company’s sales.

 

Translated by: Nada Adel Sobhi