Fatima Group, a Pakistani industrial conglomerate, has signed two MoUs of over $1 billion with two key global agriculture stakeholders – China Machinery Engineering Company (CMEC) from China and Sarh Attaqnia Co. (SAC) from Saudi Arabia at Expo 2020.
A formal signing of the business partnership was held at the Pakistan Pavilion in line with the ongoing Agriculture Week at Expo 2020 Dubai.
Fatima Group is known as Pakistan’s fastest-growing industrial conglomerate with more than $1 billion in revenue in industries like fertilizers, energy, textiles, sugar, cement, and venture capital investments.
“As chairman of a leading Pakistani conglomerate, it is my vision to bring modern precision farming to Pakistan. We as a country are blessed with immense potential and I strongly believe that with the right partners we can create a big difference not just for Pakistan’s food security but the entire region’s,” said Mian Fawad Ahmed Mukhtar, Chairman of Fatima Group and CEO of Fatima Fertilizer Company Limited.
Pakistan has over 20 percent of its GDP linked with agriculture and about 64 percent of the human resource associated with it. The company said the collaboration will potentially unlock a tremendous amount of untapped land resources of Pakistan by bringing fallow lands under cultivation for sustainable production of crops like rice, barley, oats, silage bales for livestock, and dairy industry under the Corporate Agriculture Farming initiative.