Unilever will invest $120 million in its Pakistani operations as it responds to the country’s high potential for long-term growth.
A majority of the investment will be made to enhance manufacturing operations across Unilever’s four factories in Pakistan over the next two years.
The company said the funding is testament to its commitment to growing its business in Pakistan and highlights the increasing uptake of consumer good products across the country.
Unilever Pakistan CEO Shazia Syed said: “We have been a part of Pakistan’s growth for nearly 70 years, during which time we have seen our business grow to over 30 brands in areas of home care, personal care, foods, beverages and ice cream.
“We take pride in the fact that over 95% of our brands are produced locally, creating employment for thousands, contributing to the exchequer of the country and simultaneously creating a better future every day for the people of Pakistan.”
Unilever said its operations in Pakistan are counted among the best performing units within Unilever’s global operations. Its brands in the country include Rafhan, Blue Band and Pearl Dust.
In 2013, Unilever Overseas Holding, which is a majority shareholder in Unilever Pakistan, invested over $530 million in Pakistan.
The latest funding represents the second large-scale investment announced by a major food company in Pakistan this year, after Coca-Cola revealed it could invest $200 million in two new bottling plants in the country.
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