FAISALABAD: A Turkey-based fast-moving consumer goods company (FMCG) - Hayat Kimya - has planned an investment of $330 million in Pakistan for setting up a manufacturing unit for hygiene products.
Hayat Kimya is making the ninth largest investment in Pakistan and has started work at the Faisalabad Industrial Estate Development and Management Company (FIEDMC). It has acquired 100 acres of land to install a mega state-of-the-art manufacturing unit.
"With an investment of $330 million, the company will introduce Molfix baby diapers in the hygiene category, Papia and Familia toilet paper, facial tissues and paper towel in the tissues and detergent category," FIEDMC Chief Operating Officer Aamir Saleemi told The Express Tribune.
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Established in 1937, Hayat Holdings consists of 41 companies that operate in various industries including FMCG, port operations, construction, wood and energy with nearly 17,000 employees around the globe.
Hayat Holdings offers 39 brands manufactured in 29 plants which are sold in more than 100 countries.
The company has an annual turnover of $3 billion and it plans to launch its products in Pakistan in mid-2020.
Currently, the company is working in Iran, Nigeria, Egypt, Morocco, Turkey, Russia, Bulgaria and Algeria where it has nearly 8,000 employees. It has a strong network to exports its products.
"The company will introduce latest machinery to make high-performance products in Pakistan. According to Hayat Pakistan, they are fully ready to capture the 200-million market," Saleemi said.
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He revealed that Hayat Kimya would manufacture the same quality products as in its other units around the world and would also export to South Asian countries.
According to a survey conducted by the company, Saleemi said, Pakistan had a huge potential as an emerging market. On the other hand, relations between the two countries are very good, which is also fruitful for the company as the Turkish government has invested in Pakistan's development projects.
"This is a good opportunity for Pakistan as it will provide employment to a large number of people," he said.
Saleemi shared that after becoming operational, Hayat would invest in other relevant sectors of the business, but did not give more details.
The FIEDMC official voiced hope that the company would be able to capture a large share of FMCG market in Pakistan.
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