New Delhi, Aug 3: LT Foods on Thursday said its subsidiary Nature Bio Foods has started a new facility in Uganda, Africa.
The new facility will be involved in the procurement and processing of soyabean meal and help in the expansion of the product portfolio, including chia seeds, sesame seeds and sorghum, the company said in a regulatory filing.
The plant 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, it added.
“The initial capital expenditure (CAPEX) for this new facility is to the tune of 500,000 euro. The company is eyeing revenue of 15 million euro in the next 3-4 years,” LT Foods said.
Nature Bio Foods is an organic business arm of LT Foods, which sells basmati rice under Daawat and Royal brands. (PTI)
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