RECORDER REPORT

KARACHI: Frisian Egg - Netherlands egg processing company - is expected to commence commercial operations by the end of ongoing year.

This was apprised during meeting between representatives of company and its local partners along with Sindh Enterprise Development Fund (SEDF) and Meezan Bank officials.

The chairperson, Sindh Board of Investment, said that establishment of Barkat Frisian Pasteurized egg plant in collaboration with Dutch Company at Bin Qasim industrial park was a sign of trust of international companies on Pakistan’s economy.

She said that SBI supports entrepreneurship, innovation and foreign technology collaboration which were all necessary ingredients for setting up modern industry and creating jobs.

The chairperson SBI said that through this joint venture, modern technology would be introduced in the province and it would also create employment opportunities and incentivize local industry as well.

The participants were briefed that Frisian Egg was a Netherlands based multinational egg processing company, setting up Pakistan’s largest egg processing factory in collaboration with a Pakistani Partner. This will be first of its kind of factory in Sindh. The factory is expected to start commercial production by the end of this year.

For this project of Frisian Pasteurized egg plant, Barkat Company poured investment of Rs 100 million while its Dutch counterpart will contribute investment of Rs 75 million while Meezan Bank would provide Rs 125 million besides SEDF would provide Rs 20 million as interest (KIBOR) rate subsidy on the loan.

In this Friesian pasteurized egg plant, separating egg yolk from egg white and preserve both of them up to one year will be possible. The products will be pasteurized which will be used by local food and confectionery companies.

The participants were also informed that Eggs would also be exported which would help farmers in Sindh to get 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 also attended by the representatives of Barkat Frisian and its Dutch partners along with SEDF and Meezan Bank officials.