LT Foods has taken a significant stride towards its sustainable business diversification strategy by inaugurating a new facility for its organic business branch, Nature Bio Foods, in Uganda. This recent development underscores the company’s commitment to fostering a more sustainable future in the packaged food sector.
The inaugural funding for this fresh establishment amounts to €500,000. With an optimistic outlook, the company aims to generate a substantial revenue of €15 million within the upcoming 3-4 years, as stated.
“The new facility will be involved in the procurement and processing of Soya meal and help in the expansion of product portfolio, including Chia Seeds, Sesame Seeds and Sorghum. It will have a production capacity of 10,000 tonnes in the first year and aims to scale it up to 18,000 tonnes by 2024,” the statement added.
Ashwani Arora, Managing Director and CEO, LT Foods, said, “We are delighted to announce the opening of a new facility in Uganda. This strategic move would enable us to de-risk our origin, diversify our products and diversify our origin of procurement. The move demonstrates our agility to adapt to the changing external scenario.”
“We are also focusing on extending the similar model to different origins that will help us drive our overall growth in the organic movement,” he added.