Islamabad
\nInfraZamin is pleased to announce a partnership with Sundridge Foods Limited in launching a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument will be issued by Sunridge Foods Limited, a subsidiary of Unity Foods Limited.
\nInfraZamin Pakistan, with a long-term credit rating of AAA, provides an additional layer of security for investors participating in the Sukuk. The Sukuk will be fully principle protected with InfraZamin\u2019s Guarantee.
\nThe proceeds raised through the Sukuk will fund Sunridge Foods\u2019 Balancing, Modernization, and Replacement (BMR) initiatives, which aim to modernize production facilities with sustainable, high-efficiency technologies. Notably, the BMR also includes installation of 1 MW wind turbines, and a 0.5 MW solar plant to support Sunridge\u2019s renewable energy initiative and construction of new silos and warehouses to significantly increase agri-produce storage capacity.
\nThe funds will also support working capital for key wheat and rice processing facilities in Karachi and Lahore, enabling increased production of staple foods items.
\nMaheen Rahman, CEO of InfraZamin Pakistan, expressed, \u201cThis transaction reflects InfraZamin\u2019s commitment to supporting the development of Pakistan\u2019s agriculture sector.
\nBy providing a 100% principal credit guarantee, we are facilitating access to capital markets and fostering sustainability through green energy initiatives and food security.\u201d
\nFarrukh Amin, CEO of Unity Foods, commented on the partnership, saying, \u201cOur collaboration with InfraZamin and the launch of Sunridge\u2019s first agriculture infrastructure Sukuk is a transformative step for Unity Foods.
\nThis investment paves the way for us to enhance our facilities with cutting-edge, renewable energy solutions, enabling us to meet the rising demand for our products. It\u2019s a bold stride toward operational efficiency and reflects our unwavering commitment to achieving Net Zero by 2050.\u201d
\nThe issuance of this Agri-Infrastructure Sukuk, will strengthen Pakistan\u2019s agricultural landscape and drives long-term benefits for the environment and food security. The issuance of the Sukuk is subject to SECP approval and Sunridge Foods completion of all transaction related conditions<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad InfraZamin is pleased to announce a partnership with Sundridge Foods Limited in launching a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument will be issued by Sunridge Foods Limited, a subsidiary of Unity Foods Limited. InfraZamin Pakistan, with a long-term credit rating of AAA, provides an additional layer of security for investors participating […]<\/p>\n","protected":false},"author":2,"featured_media":441592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-441619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n