Dutch firm to set up largest egg handling plant in Sindh
KARACHI: A Netherlands-established multinational egg processing company, Frisian Egg, is about to set up their largest egg processing plant worth of about Rs300 million in Sindh in partnership with a local partner.
This plant is considered as the first of its kind in the province, which is projected to function fully at commercial level by end of year 2018.
According to Chairperson Naheed Memon of Sindh Board of Investment (SBI), it is discussed that formation of Barkat Frisian Pasteurized egg plant at the Bin Qasim Industrial Park is a symbol of conviction of international companies in Pakistan’s economy.
As per study, the contribution for the projected egg plant is as follows:
– Barkat company’s contribution will be of Rs100 million while its Dutch equivalent will invest Rs75 million. A loan of Rs125 million will be funded by Meezan Bank, whereas the Sindh Enterprise Development Fund (SEDF) will add on Rs20 million with interest at subsidized rate.
According to Naheed, SBI underpins business enterprise, advancement and outside innovation joint effort which are on the whole important elements for setting up modern industry and producing jobs.
She said modern technology is a key to success, and introduction to such innovation is beneficial for a province due to combined-project. Local poultry industry will get motivated due to additional employment opportunities will also increase in the province.
The procedure on which this plant will act, is usage of modernization including separation of egg yolk from white, and can be conserved up to one year. The products will be treated for safe and long-lasting usage by local food and confectionery companies.
Main purpose of this plant will serve an additional benefit in the increasing exports of our country. These eggs will be exported after processing, which will help farmers to get better price. Whereas, the bi products of eggs including egg shell and membrane, can be used in pharmaceutical and cosmetics industries.
According to report published in July 2017, Engro Corporation Limited agreed to sell a supervisory 51 percent stake in its foods subsidiary to a Dutch dairy cooperative FrieslandCampina Pakistan Holdings BV of the Netherlands in a deal valuing around $448 million.
FrieslandCampina is one of the world’s largest dairy companies with around 19,000 member farmers and annual revenues of more than 11 billion Euros. Engro Corporation holds more than 87 percent in its wholly-owned foods subsidiary.
This association is based on long term planning, in order to offer a broader range of reasonable dairy products for the people of Pakistan which maintains extraordinary quality products.
Pakistan’s increasing consumer needs is based on processed food, due to innovation in the offerings provided by the dairy sector, the partnership for this plant will also help in the capitalization the economy of Pakistan.