KARACHI: In a landmark move to revolutionize agriculture and food processing, COFCO Technology & Industry Co., Ltd. of China and PCM Developers Limited of Pakistan have inked a Memorandum of Understanding (MOU) on June 5th, 2024. The signing ceremony, held in Shenzhen, China, marks the beginning of a joint venture to establish the largest and most advanced food complex in Karachi’s smart zone, Pakistan.
The proposed complex, boasting a massive capacity of 1.1 million metric tons, will focus on the processing and storage of seeds, cereals, and ethanol. It is poised to become a beacon of modernity, featuring cutting-edge robotic IoT-based technology. The intelligent seeding system and grain growing navigation system are set to enhance production controls, ensuring superior crop quality and growth capacity through automation.
A significant aspect of this initiative is its commitment to environmental sustainability. The smart technology system is designed to minimize the use of pesticides and fertilizers, providing precise coverage that will substantially reduce greenhouse gas emissions. Additionally, the smart farm will incorporate a carbon monitoring platform, leveraging IoT technology to track and manage its carbon footprint.
The exchange of the MOU was witnessed by an array of dignitaries, including Prime Minister Shahbaz Shareef of Pakistan and Chen Hongbin, General Manager of the International Department at COFCO TI. The ceremony was graced by Deputy Prime Minister Ishaq Dar, Federal Minister of Finance and Revenue Muhammad Aurangzeb, Federal Minister of Commerce Jam Kamal Khan, Federal Minister for Privatisation Aleem Khan, and Federal Minister of Energy Dr. Musadiq Malik, during the Pakistan-China Business Conference.
In a concurrent development, PCM Developers Limited Pakistan and TERMINUS China have also signed an MOU to invest in the construction of dry bulk storage food terminals, a food complex, chemical storage tanks, and a chemical zone with Artificial Intelligence systems in Karachi, Pakistan. TERMINUS, a subsidiary of China Everbright Limited and a global leader in AI and Smart City solutions, is set to bring its expertise to the project.
This collaboration is a testament to the strengthening ties between Pakistan and China, paving the way for technological advancements and sustainable growth in the region’s agro-industrial sector.