China agrichemical giant set up Rs700m plant in SEZ
BEIJING: Zhengbang Agriculture Pakistan Private Limited (ZHENGBANG) has planned an investment of Rs700 million to establish an agrichemical plant in the #AllamaIqbalSpecialEconomicZone (SEZ), Faisalabad.
According to a China media report, Zhangbang had started preparing for the agrichemical plant project in October 2020; keeping in view the focus on the agriculture sector under the second phase of the China-Pakistan Economic Corridor (#CPEC); friendly business environment as well as huge market potential in Pakistan. The Board of Investment was approving in March 2021.
With an area of 10.93 acres, the plant would be put into operation by June 2022. Once established, it would manufacture 100 agrichemical solutions; including insecticides, fungicides, herbicides, plant growth regulators, water-soluble fertilizers, emulsifiable concentrate, suspension concentrate, powder, water dispersible granule, etc., to protect major crops; wheat, rice, cotton, maize, sugarcane, mango, etc.
“A fertilizer production base will be set up in the plant, specializing in functional water-soluble fertilizers such as amino acids, humic acids, NPK, zinc fertilizers,” said Zhang Shilu, General Manager of ZHENGBANG. “The fertilizers will help alleviate chronic problems of hardening and saline-alkali soils in Pakistan.”
To achieve long-term operations of the plant; ZHENGBANG would also establish a research & development team in collaboration with Pakistani agricultural institutes and universities; provide customized crop solutions to better combat diseases, pests, and weeds in Pakistan, Shilu stated.
“The plant is expected to create more than 500 job opportunities for local people and contribute an annual tax of Rs50 million to the local government.”
Starting its business in Lahore in January 2020; ZHENGBANG dedicated to importing and selling pesticides and fertilizers in Punjab.
I am a freelance writer studying Mass Communication at the University of Karachi in the faculty of Media sciences. Also certified from Hubspot Academy as a Content Marketer.
