Pakistan’s Fatima Group inks $1b deals with Saudi, Chinese firms

Pakistan’s Fatima Group inks $1b deals with Saudi, Chinese firms

Officials of Fatima Group, China Machinery Engineering Company, and Sarh Attaqnia Co. at the agreement signing ceremony in Dubai - Supplied

Pakistan has over 20 per cent of its GDP linked with agriculture and about 64 per cent of the human resources are associated with it

By Waheed Abbas Published: Sat 26 Feb 2022, 4:27 PM

Fatima Group, one of the largest industrial conglomerates in Pakistan, has signed two memorandums of understanding (MoUs) worth over $ billion with two key global agriculture stakeholders – China Machinery Engineering Company (CMEC) from China, and Sarh Attaqnia Co. (SAC) from Saudi Arabia.

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, one of Pakistan’s fastest growing industrial conglomerates with more than $1 billion in revenues, has interests in fertilisers, energy, textiles, sugar, cement, and venture capital investments.

CMEC, as a technology partner, will help with the adaption of climate-smart precision agriculture farm machinery, improved high-yielding seeds, and other crop inputs in Pakistan. In addition, Sarh Attaqnia Company is a key partner that will invest in developing a state-of-the-art agriculture value chain encompassing sustainable production, processing, warehousing, and export marketing of grain crops