Global commodities trader Cargill has taken a minority stake in Fauji Akbar Portia Marine Terminal Limited (FAP), one of Pakistan’s largest bulk terminals. The deal is believed to be US-based Cargill’s first investment in Pakistan, and will enable the company to being its experience and expertise to help expand and enhance operations at the terminal in Port Qasim.
According to Waqar Malik, chairman Fauji Foundation, “With its global port experience, Cargill will help drive greater operational efficiencies for the port to reach its potential for handling agri-cargo safely and efficiently.
FAP is a joint venture between Fauji Foundation, Akbar Group of Companies and National Bank of Pakistan. The company started operations in 2010 and provides services for ship berthing, unloading, storage and bagging of a wide range of grains, cereals, oilseeds and fertilisers.