Agreement for grain and fertiliser terminal signed in Pakistan

Karachi, Pakistan | August 04, 2008 by D-8 Secretariat

National Bank of Pakistan, acting as transaction Lead Advisor and Arranger and Bank Al Falah as Co Arranger, along with a consortium of banks, signed the Financing Agreements for Rs.6.52 billion with Fauji Akbar Portia Marine Terminals (FAP), a joint venture between the Fauji Foundation and Akbar Group, to set up Pakistan’s first dedicated Grain & Fertiliser Terminal at Port Qasim on a Build-Own-Transfer basis under an Implementation Agreement with Port Qasim Authority (PQA) valid for a period of thirty years.

D-8 Organization welcomes the signing as a very encouraging news as part of concerted effort to face the global challenges arise from the food crises. “We are happy to know that Pakistan has initiated something that can propelled a further cooperation in D-8 countries for fertilizer plants, pesticide and animal feeds, as well as representable ports,” said Secretary General D-8, Dipo Alam last week in his office.

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