Morinaga plant inaugurated

SHEIKHUPURA: NutriCo Morinaga Private Limited on Friday commissioned a state-of-the-art manufacturing facility with 12,000 tons per annum capacity, which is its first-ever plant in Pakistan, a statement said. Governor Punjab Chaudhry Mohammad Sarwar inaugurated the plant, which is a joint venture between Morinaga Milk Industry Co Ltd and ICI Pakistan Ltd, and Unibrands (Private) Ltd.

A statement said that at an investment of Rs5.1 billion, the manufacturing facility was the first asset investment by a global Japanese dairy and food company in Pakistan and would unfold a new chapter in the country’s industrial history.

The joint venture includes the distribution, marketing and sales of the locally manufactured Morinaga infant/growing up formulae.

The facility, which adheres to international standards, is aimed at ensuring that children are provided with safe, clean and hygienic formula at competitive prices. In addition to creating jobs, this joint venture is focussed on technology transfer of infant nutrition manufacturing in Pakistan.

ICI Pakistan Limited’s equity stake in the joint venture is 51 percent. The combined equity stake of Morinaga Milk Industry Co. Ltd and Unibrands (Private) Ltd is 49 percent.

Asif Jooma, Chief Executive Nutrico Morinaga, said, “Through this new initiative, company’s shareholders look forward to providing quality nutrition to children across Pakistan”. “The company envisages a stronger Pakistan by attracting foreign investment in its businesses and promoting access to high quality infant formula products,” Jooma said.