InfraZamin guarantee for agri-infrastructure Sukuk

PAKISTAN: For-profit credit enhancement guarantee firm InfraZamin is backing Sundridge Foods for a PKR2 billion (US$7.19 million) agri-infrastructure Sukuk issuance. With InfraZamin’s long-term AAA credit rating providing an additional layer of security to mobilize private sector investment, the Sukuk proceeds will modernize wheat and rice processing facilities in Karachi and Lahore. New silos and warehouses are being built to increase agri-produce storage capacity, together with 1MW wind turbines and a 0.5MW solar plant to support Sunridge’s renewable energy initiative.