According to the Gurugram-based company, this investment is in line with its five-year growth strategy.
Vijay Kumar Arora, chairman, LT Group, said, ‘’I believe that this new packaging line will enable us to grow our footprint in Europe and become the leading supplier of the finest Basmati from India and Pakistan. Our gratitude goes to our key retail partners who have supported us through this expansion phase.’’
The inauguration ceremony for the new packaging line was attended by Venu Rajamony, ambassador of India to the Netherlands along with Vijay Kumar Arora and V Magoon, managing director, LT Foods Europe BV.
The company commenced its operations in the Netherlands in 2017 to serve the European market. Its Rotterdam plant produces a wide range of rice varieties such as Basmati, Thai Jasmine and long grain, which is imported and distributed across Europe.
LT Foods has five processing facilities in India, two packaging units and one ready-to-heat facility in the USA and one processing facility in Rotterdam.
The company clocked a consolidated revenue of close to Rs 4,185 crores during FY20.