Agthia’s Board has approved the setting up of a Frozen Baked Product plant with a cost of AED 65 million. The operation will be based in Abu Dhabi, with production planned to commence in the later part of 2011. The move will allow the company to enter the fast growing and high margin frozen baked segment.
Mr. Ilias Assimakopoulos, the CEO of Agthia said, “The project is in line with Agthia’s business diversification strategy and provides great potential for regional expansion. The project will introduce the latest frozen-baked technology to the Middle East.”