CEO FrieslandCampina Chairman Engro meet PM to develop dairy industry

ISLAMABAD: The global CEO of FrieslandCampina Roelof Joosten and Chairman Engro Corporation Hussain Dawood called on Prime Minister Nawaz Sharif where they jointly discussed possible opportunities to develop the dairy industry in the country through knowledge transfer and provision of nutritious value-added products amongst others.The Global CEO along with Hussain Dawood highlighted the need to explore partnership opportunities with the government to bring the local dairy industry at par with international standards and contribute to Pakistan’s dairy sector’s development.Speaking on the occasion, PM Nawaz said, ‘We believe this transaction will be instrumental in positioning Pakistan as an attractive investment destination for global companies and encourage others to follow. I am hopeful that this partnership will allow the Pakistani population to enjoy a wider array of affordable, high quality dairy products for a healthier Pakistan.”Improving the wellbeing of millions of our farmers is a cause that Pakistan has been focused on since its inception. I am convinced that this partnership will create tremendous long term value for our dairy farmers”.In December 2016 Engro Corporation (ECORP) entered into an agreement with FrieslandCampina for the sale of 51 percent of the Company’s shareholding in Engro Foods (EFOODS) in one of the single largest private sector Foreign Direct Investment (FDI) in Pakistan amounting to a total investment of USD 450 million (430 million Euros).