KARACHI: Frisian Egg, a Netherlands based multinational egg processing company, is setting up Pakistan’s largest egg processing factory in collaboration with a Pakistani partner, which will be first of its kind of factory in Sindh expected to start commercial production by the end of this year.
This was briefed to Sindh Board of Investment (SBI) Chairperson Naheed Memon in a meeting regarding Barkat Frisian Pasteurized egg company plant here, said a statement on Wednesday.
Addressing the meeting, Naheed said that establishment of Barkat Frisian Pasteurized egg plant in collaboration with Dutch Company in Bin Qasim industrial park is a sign of trust of international companies on Pakistan’s economy.
Naheed Memon said that SBI supports entrepreneurship, innovation and foreign technology collaboration which are all necessary ingredients for setting up a modern industry and creating jobs.
On this occasion, Naheed was informed that in this project of Frisian Pasteurized egg plant, Barkat company contribute with their own investment of Rs100 million while its Dutch counterpart will contribute an investment of Rs75 million.
Meezan Bank will provide Rs125 million loan for this project besides Sindh Enterprise Development Fund (SEDF) will provide Rs0.20 million as interest (KIBOR) rate subsidy on the loan.
On this occasion, Naheed said that through this Joint venture of a local company with a Dutch company, modern technology will introduced in the province through which local poultry industry will get incentives and employment opportunities will also increase in the province.
The meeting was briefed that in this plant the latest technology of separating an egg yolk from egg white and then the preservation of egg yolk and egg white from three weeks up to one year will be possible.
The products will be pasteurized which will be lead to food safe egg products to be used by local food and confectionery companies.
Eggs from Pakistan will be exported after processing which will help farmers in Sindh to get a better price for eggs.
The egg shell and egg membrane which will be a bi-product of this process will also be used in Pharmaceutical and cosmetics industries which is an additional incentive of this plant.
The meeting was attended by officers from Barkat Frisian pasteurized egg company, representatives from Dutch counter part company, officers of SEDF and Meezan Bank.
That’s Good