Global agribusiness giant ADM has formed a joint venture with Canada-based IMGS Group to handle grains, oilseeds and pulses, along with other foodstuffs, in Pakistan.
The joint venture, which will also sell goods in the country, would help ADM extend its marketing platform to new territories and support its commitment to increase food security, the company said on 15 November.
IMGS is a cargo handling and port operations company that owns and operates cargo terminals in Africa, Asia, and North America and has a growing network of 65 ports globally.
“The launch of the new joint venture in Pakistan is an … opportunity to combine resources and experience… to move large volumes of food and agricultural products from areas of production to areas of demand. The partnership strengthens our ability to keep product flowing in… challenging global conditions,” ADM global trade finance director Jerome Daven said.
ADM said the new joint venture was part of its commitment to ensure all people had access to the fundamental nutrition they needed.
“Pakistan is currently severely affected by a devastating flood, threatening people’s lives and damaging infrastructure, crops and livestock,” Daven said.
ADM had committed US$200,000, through the company’s philanthropic arm ADM Cares, to support the country in its efforts to rebuild affected areas.