Dutch company Frisian Egg is setting up more than Rs300 million worth of Pakistan’s first and biggest egg processing plant, in collaboration with a local partner, which is expected to begin production by this yearend.
“Establishment of Barkat Frisian Pasteurised egg plant in collaboration with Dutch company in Bin Qasim industrial park is a sign of trust of international companies on Pakistan’s economy,” Chairperson Sindh Board of Investment (SBI) Naheed Memon said during a meeting with the company’s officials.
A SBI’s statement said local partner committed Rs100 million in investments to set up pasteurised egg plant, while Rs75 million will be contributed by the Dutch counterpart. Meezan Bank will provide Rs125 million loan for this project and Sindh Enterprise Development Fund (SEDF) will provide Rs20 million as interest rate subsidy on the loan.
Naheed said SBI supports entrepreneurship, innovation and foreign technology collaboration which are all necessary ingredients for setting up modern industry and creating jobs. She said modern technology will be introduced in the province because of the joint-venture. Local poultry industry will get incentives and employment opportunities will also increase in the province.
The plant will use the modern technology to separate egg yolk from white. The substance could be preserved up to one year. The products will be pasteurised for safe and long-lasting usage by local food and confectionery companies.
The meeting was informed that eggs will be exported after processing, which will help farmers to get better price. The egg shell and membrane, bi-product of the process, can be used in pharmaceutical and cosmetics industries.
Officers from Barkat Frisian Pasteurised Egg and representatives from Dutch firm, SEDF and Meezan Bank attended the meeting.
In July last year, Engro Corporation Limited agreed to sell a controlling 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.
The partnership aims at to provide a wider array of affordable high quality dairy products for a healthier Pakistan and create value for farmers. Pakistan’s growing consumer market is well-poised for new innovations and consumer offerings across the dairy sector and the partnership planned to capitalise on this opportunity. The consumers increasingly tend to buy processed foods and dairy products.