QUETTA: A bomb targeting a vehicle carrying coal miners in southwestern Pakistan killed at least 11 people and wounded six others, local officials said on Friday.
The truck had brought the workers to a mine in the Harnai area of Balochistan province, where Pakistan is battling a separatist insurgency.
“An improvised explosive device was planted at the road side which exploded when truck carting coal miners reached the site,” a paramilitary official said.
The official, who declined to be identified, added that it may have been a remote operated device.
No group has claimed responsibility for the attack.
The region’s deputy commissioner, Hazrat Wali Agha, said 17 miners were in the truck when the bomb went off.
A doctor at the local hospital said two of the wounded are in critical condition.
Mineral-rich Balochistan, which borders Iran and Afghanistan, has been the scene of a decade-old insurgency by separatist ethnic Baloch groups. Religiously motivated militants also operate in the area.
Pakistan blast kills 11 people near mine, officials say
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Pakistan blast kills 11 people near mine, officials say
- Bomb targeted vehicle carrying coal miners in southwestern Balochistan province
- Mineral-rich Balochistan scene of a decade-old insurgency by separatist ethnic Baloch groups
US-based firm sells 75 percent stake in Pakistan’s leading starch producer to Nishat Group
- Rafhan Maize, prominent Pakistani starch and food ingredients producer, has a market capitalization of $355 million, says brokerage firm
- Brokerage firm Arif Habib Ltd. says transaction ranks among largest mergers and acquisitions deals in Pakistan in nearly two decades
Karachi: US-based firm Ingredion Incorporated has formally agreed to sell up to 75% of its stake in Rafhan Maize Products, a leading Pakistani starch and food ingredients manufacturer, to Pakistan’s Nishat Group, Ingredion’s financial adviser said on Sunday.
Rafhan Maize is a subsidiary of Ingredion Incorporated, a prominent global corn refiner which began its operations in Pakistan as a pioneer of the corn refining industry in 1953. Over the last six decades, Rafhan Maize says it has expanded operations to become one of the country’s premier agro-based industries.
Nishat Group, meanwhile, is a Pakistani private sector business conglomerate. Brokerage firm Arif Habib Limited acted as the exclusive financial adviser to Ingredion Incorporated for the transaction.
“This landmark transaction ranks among the largest M&A deals in Pakistan in nearly two decades, giving the Nishat Group a controlling stake in Rafhan Maize,” Shahid Ali Habib, chief executive officer of Arif Habib Ltd., said in a statement.
He added that Rafhan Maize has a market capitalization of approximately Rs100 billion [$355 million].
Habib described Rafhan Maize as a “market leader” in Pakistan’s starch industry, operating three production facilities nationwide with a production capacity more than five times its nearest competitor.
“Ingredion shall retain a strategic stake in the company and continue to support the Nishat Group,” he added.
