Thursday, July 18, 2024
HomeLatest NewsEconomyDollar 200 Million Investment on Pink Salt

Dollar 200 Million Investment on Pink Salt

Miracle Salt Work to invest $200M in collecting, processing, and pink.

According to estimates, the nation has more than 22.22 billion tonnes of pink salt natural resources, mostly concentrated in the salt range areas of Kala Bagh, Varcha, Khewra and Bahadur Khel. This resource has great potential to initiate a large economic activity.

According to a statement issued by the Press Information Department, officials of the corporation met Masood Khan, Pakistan’s ambassador to the US, in Washington and apprised him of their plans.

Click here to read in Urdu

These investments will be made in feasibility, reserve report, upgrading of mining methods and processes, construction of world-class processing and packaging facility and community development programs.

Pakistan, with its geographical monopoly on resources, has vast deposits of pink salt with an annual revenue of $12 billion, according to a briefing by the top management of Miracle Salt Works Collective Incorporated.

Strategy ready for Miracle salt

To help the government regulate and incentivize the private sector to harness the available potential, MSCI President Ahmed N Khan announced that under a clear policy, multi-sectoral public-private partnerships will be launched.

A comprehensive strategy is being developed. The company’s joint venture with Pakistan Mineral Development Corporation was announced to the public.

By the year 2030, the company hopes to increase market knowledge worldwide and extract 10 million tonnes in verifiable quantities. Two state-of-the-art processing and distribution facilities will be constructed in Doha and China to meet the worldwide demand for Pakistani commodities.

Ambassador Khan welcomed MSCI‘s investment and interest in promoting pink salt. He said that the government is committed to providing all possible facilities to international investors and the business community intending to invest in traditional and non-traditional sectors of the economy.

The leadership of Miracle Salt Works was assured by the ambassador that the embassy would provide all necessary support for the speedy completion and implementation of their business strategy in the country.

- Advertisment -

Most Popular