Cargill acquires minority stakein the grain terminal at Port Qasim
(ISLAMABAD, Pakistan)09 December 2020– Cargilland Fauji Foundation have entered a long term strategic partnershipin Pakistan. Withthis investment,Cargill has taken a minority equity stake in Fauji Akbar Portia Marine Terminal Limited (FAP), Pakistan’s leadingbulk terminal, and will handle grains, cereals, rice, oilseeds and fertilizers at Port Qasim. Fauji Foundation, through this partnership with the world’s leading agriculture company, will transformFAP’s supply chain to enhance overallvalue for all stakeholders including suppliers, customers, employees and shareholders.
This is Cargill’s first investment into Pakistan,after the strategic intent announced in January 2019 and reflects its long-term commitment to the country.Cargill is already a leadingsoybean and palm supplier in Pakistanandwillfurther strengthen its presence as a significant agri-importer,while enablingFAP to leverage Cargill’s extensive experiencein bulk handling, port operations and its technical know-how. Combining Cargill’s customer centric approach with FAP’s operational excellencewill help support customers better.Going forward, both partners aim to build a safety culture that will create a world class, safeand sustainable environment for FAP’s employees and customers.
Fauji Foundation Chairman, Waqar Malik stated: “We are excited to have Cargill join hands with us at FAP Terminal, Port Qasim. To conclude this transaction at this point in time is a clear signal and validation of the Pakistan opportunity seen by the world’s leading player in agriculture commodities. With its global port experience, Cargill will help drive greater operational efficiencies for the port to reach its potential of handling agri-cargo safely and efficiently. Fauji Foundation is building on its agricultural and infrastructure sector presence to help solve the pressing needs of our country for efficient and affordable nutrition through enhanced farmer productivity.”
“We areproud to partner withFauji Group in this venture. Fauji Foundation, along with other shareholders, have grown FAP into a key terminal for agricultural commodities over the last decade. We will, together,position the Company for its next stage of growth and profitability.This further adds to our global port operation’s footprint andstrengthens our agricultural trading and supply chain operationsin the region. It is a demonstration of our commitment to partner in the economic growth of Pakistan by bringing in our global expertise and investment. In future we will also look at opening doors for other sectors where we can add value, besides exploring business synergies with our existing partners,” said Imran Nasrullah, country president, Cargill Pakistan.
Fauji Akbar Portia Marine Terminal Limited (FAP) FAP is a joint venture between Fauji Foundation, Akbar Group of Companies and National Bank of Pakistan (NBP) operating a state-of-the-art grain and fertilizer marine terminal at Port Qasim, Karachi. FAP started operations in 2010 and provides complete Supply Chain Management solutions for ship berthing, unloading, storage and bagging of all types of grains, cereals, oilseeds and fertilizers. This terminal operates with international standards and has helped build efficiencies in dry cargo handling in Pakistan.