LAHORE: The Sri Lanka China Business Council (SCBC) and a local private agriculture firm have entered into a $600 million joint venture for introducing modern farming technology in Pakistan.

A memorandum of understanding (MoU) to this effect was signed by SCBC President Rabbi Silva and Four Brothers Group chairman Engr Javed Saleem Qureshi on Thursday.

Two Chinese universities, China Ocean University and College of Coastal Agricultural Sciences will also be part of this venture to provide technical assistance to the JV.

SCBC is a facilitator that coordinates with Belt and Road Initiative and private agricultural companies and investment banks from China, Sri Lanka and Pakistan.

Quality seeds and greenhouse infrastructure, processing and packaging with support of science and technology will be given by SCBC through Agriculture Modernisation Corporation Triangle, while the local partner will provide land at different places with required infrastructure.

Mr Qureshi says that they will provide 1,500 acres in three blocks — each comprising 500 acres in Lahore, Khanewal and Chakwal — for growing green chillies, onions, tomatoes, etc on the hydroponics technology. Lat­er, more vegetables and crops will also be introduced.

Published in Dawn, March 4th, 2022