Pakistan is ready to build an agricultural fertilizer plant in Kazakhstan for $1 billion

Pakistan is ready to invest $1 billion in the construction of a plant of agricultural fertilizers in Kazakhstan. Kazakh Invest held a meeting with the management of the Pakistani company Engro Corporation Limited, reports World of NAN, referring to the press service of the national company.

The delegation visited Kazakhstan to hold negotiations with the representatives of the concerned central governmental bodies and quasi-public sector organizations on the plant construction project.

The Karachi-based diversified conglomerate invests in a broad portfolio of businesses in energy, agricultural products, petrochemicals and telecommunications infrastructure. To date, the Pakistani company has established joint ventures with the Kingdom of the Netherlands and Japan, the press service said.

Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Islamic Republic of Pakistan Yerzhan Kistafin, Chairman of the Board of JSC "NC "KAZAKH INVEST" Meirzhan Yusupov, on behalf of "Engro Corporation Limited" there were Khawaja Bilal Hussain, Senior Vice president on strategy and business development, General Director Hussain Hassan Ali and Manager Nasir Sayed Obaid.

Ambassador Yerzhan Kistafin informed Pakistani partners about state support measures. Meirzhan Yusupov emphasized that Kazakh Invest is ready to provide a range of services to support the implementation of the project.

"One third of the processed investment projects falls on the agro-industrial complex, which is why the experience of Pakistan is important for us. Considering that Kazakhstan ranks 6th in the world in terms of the area of agricultural land, where over 80% of the land (220 million hectares) is used for agricultural production," concluded the Chairman of the Kazakh Invest Board.

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