ISLAMABAD: Minnesota based Cargill Corporation has announced plans to invest more than $200 million in the next three-to-five years in Pakistan betting on rising agriculture and food demand in the country.
The announcement was made soon after Cargill’s global executive team, led by Marcel Smits, head of Global Strategy and Chairman Cargill Asia Pacific region; and Gert-Jan van den Akker, President Cargill Agricultural Supply Chain, met with Prime Minister of Pakistan Imran Khan and other senior government officials to discuss the company’s future investment plans, Press Information Department (PID) reported.
Being a global food and agriculture producer with a strong focus on Asia, Cargill aims to collaborate in Pakistan’s growth by bringing its global expertise and investment into the country. The company’s strategy includes expansion across its agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses while ensuring safety and food traceability.
Cargill will bring world-class innovations to support the flourishing dairy industry in Pakistan, which is already moving toward modernization, as well as the rising demand for edible oils backed by evolving consumption patterns and a growing market for animal feed driven by sustained progress made by the poultry industry in Pakistan.
Cargill’s proposed investments will support Pakistan’s overall economic development and contribute to local employment. PM Imran Khan welcomed investment plans of Cargill in the area of agriculture development, import substitution and enhancement of agricultural products. He highlighted the efforts of the government towards ensuring transparency, providing the business community with level playing field and improving ease of doing business in the country.