Karachi
\nMatco Foods Limited, a leading South Asian agribusiness, has entered into a PKR 750 million, three-year financing agreement with Bank Alfalah, one of Pakistan\u2019s leading commercial banks. This strategic partnership aims to enhance Matco Foods\u2019 corn starch production capabilities to meet the growing demands of a diverse customer base.
\nThe investment will be directed towards expanding Matco Foods\u2019 existing corn starch facility located in the Allama Iqbal Industrial City, Special Economic Zone (SEZ), Faisalabad. This facility, operational since August 2022, has been pivotal in supplying high-quality corn starch to both domestic and international markets.
\nThe funds will expand production capacity from 200 tons per day (tpd) to 300 tpd grind. Additionally, a portion of the financing will be used to repay short-term loans. As part of the agreement, Bank Alfalah will have the option to convert its financing into ordinary shares in Matco\u2019s new subsidiary, subject to regulatory approvals.
\nKhalid Ghori, CEO of Matco Foods, expressed his enthusiasm about the collaboration:
\n\u2018At Matco Foods, we are committed to investing in the growth of our corn starch segment to serve our diversified customer base better. We would like to extend our sincere gratitude to Bank Alfalah for its strategic support, which plays a crucial role in the continued growth of Matco Foods.
\nWe are optimistic about Pakistan\u2019s economic trajectory and are dedicated to contributing to its progress. Our facility\u2019s location within the Special Economic Zone has been instrumental in our success, and we extend our thanks to FIEDMC, the Board of Investment, SIFC, and other government stakeholders for their unwavering support and visionary leadership.\u2019
\nFarooq Ahmed Khan, Group Head Corporate, Investment Banking and International Business at Bank Alfalah Limited shared his perspective on the collaboration:
\n\u2018We are excited to partner with Matco Foods in their growth journey, providing customised financial solutions that align with their expansion plans.
\nThis collaboration reinforces Bank Alfalah\u2019s commitment to driving strategic investments in Pakistan\u2019s agribusiness sector, strengthening the agricultural value chain, and fostering sustainable economic progress.
\nAs a bank that supports value-added agriculture, we remain dedicated to enabling businesses like Matco Foods to scale, innovate, and contribute to long-term industry growth.\u201d
\nWith this partnership, Bank Alfalah strengthens its commitment to advancing value-added agricultural processing. The collaboration aligns with Matco Foods\u2019 expansion goals, reinforcing support for Pakistan\u2019s agribusiness sector. This strategic alliance marks a significant investment in the industry and reflects both organisations\u2019 confidence in the country\u2019s economic potential.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi Matco Foods Limited, a leading South Asian agribusiness, has entered into a PKR 750 million, three-year financing agreement with Bank Alfalah, one of Pakistan\u2019s leading commercial banks. This strategic partnership aims to enhance Matco Foods\u2019 corn starch production capabilities to meet the growing demands of a diverse customer base. The investment will be directed […]<\/p>\n","protected":false},"author":2,"featured_media":466217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-466200","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n