ISLAMABAD: Optima Integration Group, China, and Asia Pak Investments, Pakistan, in spirit to enhance business-to-business (B2B) agricultural cooperation between Pakistan and China signed a memorandum of understanding (MoU) under the auspices of the Board of Investment (BoI) on Monday.
The project between the signing parties will comprise setting up an end-to-end supply chain for seafood export (79 species of fish are approved by General Administration of Customs of the People’s Republic of China for export from Pakistan to China), to be produced in Pakistan and transported to China for consumption there.
It will include a high-tech processing facility and related technology transfer.
In the first phase, the estimated investment will be around USD 50 million and will create more than 100 jobs in Gwadar and Karachi in fishing, power and logistics sectors.
In the long run, the project will expand from fish to beef and goat – starting off with exporting beef with cold chain transport, then scaling with Chinese standard breeding, feedlot operations, vaccinations, track and trace technology, and slaughter and pack facilities in Karachi.
Federal Minister BoI Chaudhry Salik Hussain was the chief guest of the event and Secretary BoI Fareena Mazhar also participated in the ceremony.
The signatories included Sam Siu, chairman, Optima Integration Group and Eusha Saleem Bajwa, CEO, Sino-Pak Optima Technologies (SPOT).
The BoI federal minister appreciated the interest of Chinese side in agriculture and livestock sector of Pakistan particularly, seafood industry.
Copyright Business Recorder, 2022
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