Cargill plans to invest $200m in Pakistan

US-based food and agriculture group Cargill has announced plans to invest over $200m in Pakistan in the next three to five years.

The company will make the investment in sectors ranging from dairy, edible oils, meat and animal feed.

Led by Cargill Asia Pacific region chairman and global strategy head Marcel Smits, as well as Cargill Agricultural Supply Chain president Gert-Jan van den Akker, Cargill’s global executive team met Pakistan Prime Minister Imran Khan and other senior government officials to discuss the company’s investment plans.

Cargill Pakistan country head Imran Nasrullah said: “Having been in Pakistan for more than 30 years, Cargill is happy to demonstrate our commitment to the country’s future through investment in our business and communities here.

“Finalising one of our first investments in the agricultural supply chain in Pakistan is our top priority. We have received a very positive response from the Pakistani government and we value their support as we expand our presence here, helping industries, farmers and communities succeed.”

The investment announcement comes as the country is increasing efforts to stabilise its economy and attract investments.

In December, Cargill reached an agreement to divest its malt business to Boortmalt for an undisclosed price.

This deal covers 15 facilities across four continents. Cargill’s malt business has over 500 employees.

Boortmalt is an Axéréal subsidiary, which operates ten plants in Europe and produces more than a million tonnes of malt a year.

Also in December, Cargill opened its headquarters in Wichita, Kansas, with an investment of $70m.

The 188,000ft² building focuses on the company’s North American protein operations and aims to offer food solutions to global customers through technology and a focus on sustainability.