BEIJING: Zhengbang Agriculture Pakistan Private Limited (ZHENGBANG) has planned an investment of Rs700 million to establish an agrichemical plant in the Allama Iqbal Special Economic Zone (SEZ), Faisalabad.
According to a China media report, Zhangbang had started preparing for the agrichemical plant project in October 2020 keeping in view the focus on agriculture sector under the second phase of China-Pakistan Economic Corridor (CPEC), friendly business environment as well as huge market potential in Pakistan. The company’s plans were approved by the Board of Investment in March 2021.
With an area of 10.93 acres, the plant would be put into operation by June 2022. Once established, it would manufacture 100 agrichemical solutions, including insecticides, fungicides, herbicides, plant growth regulators, water-soluble fertilizers, emulsifiable concentrate, suspension concentrate, powder, water dispersible granule etc., to protect major crops — wheat, rice, cotton, maize, sugarcane, mango etc.
“A fertilizer production base will be set up in the plant, specializing in functional water-soluble fertilizers such as amino acids, humic acids, NPK, zinc fertilizers,” said Zhang Shilu, General Manager of ZHENGBANG. “The fertilizers will help alleviate chronic problems of hardening and saline-alkali soils in Pakistan.”
To achieve long-term operations of the plant, ZHENGBANG would also establish a research & development team in collaboration with Pakistani agricultural institutes and universities to provide customised crop solutions to better combat diseases, pests and weeds in Pakistan, Shilu stated.
“The plant is expected to create more than 500 job opportunities for local people and contribute an annual tax of Rs50 million to the local government.”
Starting its business in Lahore in January 2020, ZHENGBANG has been dedicated to importing and selling pesticides and fertilizers in Punjab.
ZHENGBANG is a wholly-owned subsidiary of Zhengbang Crop Protection Co Ltd, a leading crop protection body of China’s agrichemical giant Zhangbang Group. With its economic and research prowess, Zhangbang Group has set up 20 overseas companies along the Belt and Road countries including Pakistan.