Cargill to grow Pakistan business with $200m investment

Published January 18, 2019
Cargill Asia Pacific Region Chairman Marcel Smits meets Prime Minister Imran Khan at PM Office. ─ Photo courtesy PID Twitter
Cargill Asia Pacific Region Chairman Marcel Smits meets Prime Minister Imran Khan at PM Office. ─ Photo courtesy PID Twitter

Global food and agriculture producer Cargill on Thursday renewed its long standing commitment to Pakistan by announcing plans to invest more than $200 million in Pakistan in the next three to five years.

The announcement was made after a meeting between Prime Minister Imran Khan and other senior government officials, and Cargill's global executive team at PM Office.

Cargill's team was led by head of Global Strategy and Cargill Asia Pacific region chairman, Marcel Smits, and Cargill Agricultural Supply Chain President Gert-Jan Van Den Akker.

Both sides discussed the company's future investment plans, a press release issued by PMO said. Cargill, which has a strong focus on Asia, intends to partner with Pakistan to bring its global expertise and investment into the country.

Cargill's proposed investments are expected to support Pakistan's overall economic development and contribute to local employment.

The company's strategy includes expansion across agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses, while ensuring safety and food traceability.

Cargill is expected to use employ its world class innovations to support the flourishing dairy industry in Pakistan ─ which is already moving toward modernisation, 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.

The visiting delegation informed the prime minister that Cargill intended to invest in Pakistan as far back as 2012 but were discouraged by mismanagement, corruption and non-availability of level playing field during the previous governments.

Prime Minister Khan welcomed Cargill's proposed plans for investment 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 a level playing field and improving ease of doing business in the country.

The prime minister assured the delegation of the government's full support.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Ill omens
Updated 12 Feb, 2025

Ill omens

One wonders whether institutional leadership realises the long-term ramifications of the ongoing "remaking" of judiciary.
Sunken dreams
12 Feb, 2025

Sunken dreams

ANOTHER tragedy has struck Pakistani migrants seeking a better future. A boat capsizing off the Libyan coast has ...
Hate in India
12 Feb, 2025

Hate in India

HISTORY shows that rulers use hate speech to provoke hate crimes and ‘othering’ among communities. Indian Prime...
IMF scrutiny
Updated 11 Feb, 2025

IMF scrutiny

Strengthening foundations of the economic superstructure will help make the economy competitive and boost growth.
Shadow voices
11 Feb, 2025

Shadow voices

OVER the weekend, another ‘open letter’ addressed to the army chief and attributed to former prime minister ...
Paradise at a premium
11 Feb, 2025

Paradise at a premium

PAKISTAN’S recent triumph at the New York Travel and Adventure Show 2025, winning the Best Partner Pavilion Award,...