InfraZamin is pleased to announce a partnership with Sundridge Foods Limited in launching a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument will be issued by Sunridge Foods Limited, a subsidiary of Unity Foods Limited.<\/p>\n
InfraZamin Pakistan, with a long-term credit rating of AAA, provides an additional layer of security for investors participating in the Sukuk. The Sukuk will be fully principle protected with InfraZamin\u2019s Guarantee.<\/p>\n
The proceeds raised through the Sukuk will fund Sunridge Foods\u2019 Balancing, Modernization, and Replacement (BMR) initiatives, which aim to modernize production facilities with sustainable, high-efficiency technologies. Notably, the BMR also includes installation of 1 MW wind turbines, and a 0.5 MW solar plant to support Sunridge\u2019s renewable energy initiative and construction of new silos and warehouses to significantly increase agri-produce storage capacity. The funds will also support working capital for key wheat and rice processing facilities in Karachi and Lahore, enabling increased production of staple foods items.<\/p>\n
Maheen Rahman, CEO of InfraZamin Pakistan, expressed, "This transaction reflects InfraZamin\u2019s commitment to supporting the development of Pakistan\u2019s agriculture sector. By providing a 100% principal credit guarantee, we are facilitating access to capital markets and fostering sustainability through green energy initiatives and food security.”<\/p>\n
Farrukh Amin, CEO of Unity Foods, commented on the partnership, saying, "Our collaboration with InfraZamin and the launch of Sunridge\u2019s first agriculture infrastructure Sukuk is a transformative step for Unity Foods. This investment paves the way for us to enhance our facilities with cutting-edge, renewable energy solutions, enabling us to meet the rising demand for our products. It’s a bold stride toward operational efficiency and reflects our unwavering commitment to achieving Net Zero by 2050.\u201d<\/p>\n
The issuance of this Agri-Infrastructure Sukuk, will strengthen Pakistan\u2019s agricultural landscape and drives long-term benefits for the environment and food security. The issuance of the Sukuk is subject to SECP approval and Sunridge Foods completion of all transaction related conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
InfraZamin is pleased to announce a partnership with Sundridge Foods Limited in launching a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument will be issued by Sunridge Foods Limited, a subsidiary of Unity Foods Limited. InfraZamin Pakistan, with a long-term credit rating of AAA, provides an additional layer of security for investors participating in […]<\/p>\n","protected":false},"author":1,"featured_media":1083,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1081","press-releases","type-press-releases","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n