Governor Punjab Chaudhry Muhammad Sarwar on Friday inaugurated a new state-of-the-art manufacturing plant of infant formula called NutriCo Morinaga (Private) Limited constructed at cost of Rs5.1 billion having a production capacity of 12,000 tons per annum. The manufacturing facility is the first asset investment by a global Japanese Dairy and Food Company in Pakistan and it will unfold a new chapter in the country's industrial history. It is a joint venture between ICI Pakistan Ltd, Unibrands (Private) Ltd and Morinaga Milk Industry Co, Ltd.
Speaking at the inaugural ceremony, Governor Punjab Chaudhry Muhammad Sarwar termed this Japanese investment and setting up of plant as a reflection of trust businessmen and investors have in the policies of the present government. Welcoming the production facility, he said that this new facility will help technology transfer and creation of direct and indirect employment opportunities in the Sheikhupura town and overall Punjab as well.
He also welcomed that Sindh businessmen are coming to Punjab for investment and said that wholehearted assistance would be extended by the provincial government to them. The Punjab government was keen to provide an enabling and conducive environment to the business and economic activities. He said that industrial policy is being drafted with a major focus on the provision of all the required facilities including easy access to capital to push the economic activities upward.
Chaudhry Sarwar also termed this new facility as a reflection of friendly ties between Pakistan and Japan and assured that the federal and provincial governments would extend all-out support to further cementing these bilateral relations. He said health and nutrition is also the top priority of the provincial government and it is taking many steps including the provision of free health facilities under 'Sehat Insaaf Card' to the patients.
Chief Executive Nutrico Morinaga Private Limited Asif Jooma & Chairman Board Sohail Tabba said that their company envisages a stronger Pakistan by attracting foreign investment in its business and promoting access to high-quality infant formula products. They said that this new facility would ensure that children are provided with safe, clean and hygienic formula at competitive prices. This is in line with the Government of Pakistan's vision of achieving import substitution and self-reliance, whilst address child nourishment and development, they added.
Morinaga Milk Industry's President Michio Miyahara in his address hoped that the new joint venture would play a key role in the Morinaga Group's strategy of strengthening its global operations to achieve sustained future growth.
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