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Jun, 29 2017

LT Foods invests $15 million to set up rice processing plant in Europe

LT Foods plans to expand its geographical footprint in important markets of Europe and UK through this plant by increasing its sales from the current 5000 tonnes to 60000 tonnes over the next 3 years

With an aim to popularise its Daawat brand of rice in Europe, LT Foods commenced operations of its first rice processing plant at Rotterdam, Netherlands. LT Foods has made an investment of $15 million in the plant with initial capacity of 60000 tonnes and scope for further expansion in the future.

LT Foods plant is the first rice processing plant by any Indian foods brand in Europe. LT Foods plans to expand its geographical footprint in important markets of Europe and UK through this plant by increasing its sales from the current 5000 tonnes to 60000 tonnes over the next 3 years. 

The Company would be manufacturing a wide range of rice including popular varieties like Basmati, Thai, Jasmine and American rice from the new plant. Rotterdam, which is popularly known as the gateway to Europe will be a critical geographical location as it will give the Company easy access to the whole of Europe and UK for its expansion plans.

Ahmed Aboutaleb, Mayor, Rotterdam, Netherlands, said, "We are extremely happy to welcome such a reputed Indian Company to make Netherlands its base for manufacturing for the whole of Europe. Our endeavour has been to make our country one of the most business friendly places globally. We would like to welcome more Indian companies to set up operations in our country to leverage our strategic geographic location, skilled manpower and advanced infrastructure to expand their footprint across Europe and UK."

Ashwani Arora, CEO and Managing Director, LT Foods said, "Europe and UK are critical markets for LT Foods for our future growth and we intend to make deep inroads in these markets by making our most popular rice brand ''Daawat'' a household name. The location of the plant was also critical for us as Rotterdam will provide us easy access to whole of Europe and UK. We want to exponentially increase our geographical reach and product portfolio in these markets by offering our globally acknowledged best-in-class food products to every consumer."

LT Foods has collaborated with Rotterdam Partners, The Port of Rotterdam Authority and Netherlands Foreign Investment Agency (NFIA) for this initiative.

The company has already launched Daawat brand in six new countries this year and plans to expand its product offerings and portfolio globally.

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