Several palm oil based project agreements to be signed: 40-member Malaysian team visiting Karachi

Several joint venture agreements for the development of infrastructure and establishment of palm oil projects with Malaysian participation would be signed here during the visit of a high powered 40-member Malaysian delegation. These ventures would be between Westbury Group, is headed by Mohammed Bashir Janmohmmed and ''Felda'', KL-Kepong and IOI of Malaysia.
Agreement for the expansion of the existing joint venture projects between the two groups would also be signed. The delegation, headed by Datuk Peter Chin Fah Kui, Minister of Plantation, Industries and Commodities, will arrive in Karachi late on Tuesday night and will stay till April 21.
It will include chairmen and chief executives of top 10 Malaysian industries drawn mainly from palm oil sector. Prominent among them are Dato Seri Lee Oi Hian, Chairman, Malaysian Palm Oil Council (MPOC) and Director, KL-Kepong Berhad, Malaysia, Datuk Mohd. Bakke Salleh, Group Managing Director, Felda, Yong Chin Fatt, Director, IOI Corporation, Tan Sri Datuk Dr Yusof Basiron, Chief Executive Officer, Malaysian Palm Oil Council (MPOC), and Dato Dr Mohd. Basri Wahid, Director General, Malaysian Pal Oil Board (MPOB).
During their stay the delegation members and government officials would visit joint venture projects established with Malaysian participation at Port Qasim, including the first jetty namely Felda Westbury Qasim (FWQ) which is being built on BOT basis at an estimated cost of $20 million (approx Rs 1.2 billion). They will also visit the state-of-the-art chemical/physical refinery, having a capacity of around 300,000 million tons per annum.
The Malaysian Minister will also inaugurate the expansion project of Mapak Qasim Bulkers (MQB) built as a joint venture of Felda, KL-Kepong and IOI Corporation, Malaysia. With this expansion, the storage capacity of BQB will be 100,000 million tons.
Mohammad Bashir Janmohammad, Chairman, Westbury Group and local joint venture partner, will brief the delegation about the projects and future plans. Chairman, Port Qasim Authority, Vice-Admiral Asad Qureshi will brief the delegates on the performance and the future projects at Port Qasim which is considered to be one of the most successful ports of Pakistan today.
Gigantic projects are either in the pipeline or under construction, ie, Textile City, refinery, jetty and several large industrial projects. Chairman PQA is expected to invite Malaysian delegates to invest in the PQA development projects. A Rasheed Janmohammed, Chief Executive joint venture projects of Westbury Group will also brief the delegates about the Pak-Malaysia joint venture projects.