LT Foods has recently established a new office in Riyadh, Saudi Arabia, as part of its strategic expansion into the $2 billion rice and rice-based food sector in the region.

The company plans to invest approximately $49.3 million over the next five years, with a target revenue of around $116 million during this period.

This move is in line with LT Foods' goal of exploring new markets, as the company currently generates global revenues of $1 billion.

The new office will serve as a central hub for the company's operations in the Middle East, demonstrating its commitment to growth in the region.