Turkish company announces investment of $150m in Pakistan

Will venture in country's fast moving consumer goods segment

LAHORE: Hayat Group, a Turkish conglomerate, has announced that it is going to invest $150 million in Pakistan's fast moving consumer goods segment through its subsidiary Hayat Kimya, which manufacture goods in hygiene, tissue and home care categories.

The company will first introduce baby diapers, toilet paper, hand towel and facial tissues, the group executive announced on Monday, saying that Pakistan has huge potential as an emerging market and as the world's sixth largest population, together with the benevolent relations with Turkey for decades.

The company is the world's fifth largest branded baby diaper manufacturer, as well as the largest tissue manufacturer of the Middle East, Eastern Europe and Africa. It will bring its products to Pakistan in February.

"We have great confidence in Pakistan and we believe everyone around the world has a right to access good quality products," said M A Kiğılı, chief executive officer of Hayat Kimya. "We offer the same Hayat quality as in Turkey, to Pakistan," he added.

The multinational company has nine subsidiaries across the globe, including Pakistan.