Descon diversifies into the agricultural sector; invests in two agri-tech companies
Descon is one of the largest conglomerates of key sectors in Pakistan including construction, power generation and chemicals. In its continued efforts to drive economic growth in Pakistan, Descon has signed an investment agreement to acquire a stake in two dynamic companies – ‘Vital Agri Nutrient’ (VAN) and ‘Vital Green’ (VG).
Descon is one of the largest conglomerates of key sectors in Pakistan including construction, power generation and chemicals. In its continued efforts to drive economic growth in Pakistan, Descon has signed an investment agreement to acquire a stake in two dynamic companies – ‘Vital Agri Nutrient’ (VAN) and ‘Vital Green’ (VG), as part of its diversification strategy in the agricultural sector, which is undoubtedly the backbone of the Pakistani economy.
Both companies will benefit from this strategic alignment with an enterprising entity, using the resources and expertise available to Descon to achieve the next phase of their growth. Descon seeks to support these two companies and other similar ventures in building technology and infrastructure to organize, empower and improve the quality of life for millions of participants in the agricultural value chain in Pakistan. In the initial phase, Descon will help VAN and VG unlock their growth potential, while synchronizing the supply chain for added value.
Descon Vice President Faisal Dawood welcomed the alliance saying, “These strategic investments validate the impact that Vital Agri Nutrient and Vital Green have had in agriculture so far and Descon will help strengthen their impact by providing the required strategic resources. , financial and governance. We have ventured into this space to disrupt outdated farming methods and redundant practices in agricultural value chains, and aspire to create economic opportunity for all involved in this sector. We look forward to investing in similar ventures to advance our agricultural vision. »
Agriculture is the most important sector in Pakistan, but unfortunately in recent years it has received inadequate development support, which leaves it with near stagnant productivity. Descon’s venture into this area will improve farming communities’ access to up-to-date knowledge, innovative technologies, training, expert advice and financial resources, while having a positive impact on the whole the community through effective partnerships leading to food security and improved livelihoods.
VAN and VG CEO Ahmed Umair said, “We aspire to improve the quality of life for millions of farmers in order to responsibly feed the world and protect the planet. In partnership with Descon, we create synergies and we will develop knowledge together to realize our vision of an inclusive and collaborative society without hunger and the planet being treated in a sustainable way. We find Descon aligned with our values and our vision for the future of the agricultural sector. Through continuous research and development, we meet the diverse needs of farmers, achieve higher yields, and improve the quantity and quality of food and nutrition available to the nation. We look forward to the management of Descon to become an international company within a decade.
Food security, limited agricultural land and the depletion of soil resources are the challenges that drive us.
‘VAN’ is a leading manufacturer of specialty fertilizers, soil amendments and bio-fertilizers and has been in the industry for 12 years, achieving one of the largest production capacities of water-soluble fertilizers. water in Pakistan. It works closely with its farmers and corporate clients to provide innovative, value-added solutions. VAN has also developed customized, crop and area specific crop nutrition plans with reduced environmental impact.
‘VG’ provides access to credit, quality inputs, actionable knowledge, digital tools and market awareness for farmers. It has one of the largest networks of company operated service centers in all of Pakistan. The company already works with thousands of farmers and has a structured approach to collaborating with digital, financial and value chain partners. VG serves more than a dozen value chains including sugar cane, rice, wheat, corn, banana, chilli and tomato.