American food and agriculture giant Cargill Inc announced on Friday that it will invest $200 million in Pakistan in the next three to five years.
The announcement was made after a meeting between Prime Minister Imran Khan and the Cargill delegation led by its head of global strategy and chairperson of the Cargill Asia Pacific region Marcel Smits as well as Cargill Agricultural Supply Chain President Gert-Jan van den Akker.
The group says it intends to bring world class innovations to support the flourishing dairy industry in Pakistan. Cargill expressed its interest growing the animal feed market.
“Cargill’s proposed investments will support Pakistan’s overall economic development and contribute to local employment,” a statement issued by PM House read.
The prime minister welcomed Cargill’s investment plans in the area of agriculture development, import substitution and enhancement of agricultural products.
Cargill, which has been operating in Pakistan since 1984, is one of the largest suppliers of palm oil and soybeans and cocoa powder to Pakistan.