US Company, Miracle Saltworks Collective, to invest $200 million in Pakistan’s Pink Salt industry
Miracle Saltworks Collective Inc is looking to invest hundreds of millions in curating, distributing, processing, and importing Pink Himalayan Salt from the country
A company in the United States has decided to invest as much as $200 million in Pakistan’s Pink Salt Industry.
Miracle Saltworks Collective Inc is looking to invest hundreds of millions in curating, distributing, processing, and importing Pink Himalayan Salt from the country. In a statement issued by the Press Information Department, the representatives of the company met the Ambassador of Pakistan to the United States, Masood Khan, in Washington and talked about their plans.
US Company to Invest in Pakistan
The investment would be made in reserve reports, improvement of mining procedures and processes, feasibility, construction of top-class processing and packaging facility, and community development programs.
During a briefing by the leadership of Miracle Saltworks Collective Inc (MSCI), it was remarked that Pakistan has huge reserves of Pink Salt. It was also estimated that the country could potentially earn as much as $12 billion annually. Currently, Pakistan has approx. 22.22 billion tons of natural resource, which is located mostly in the Salt Range areas of Khewra, Warcha, Bahadur Khel, and Kala Bagh. These areas have the ability to kick-start massive economic activity.
MSCI President, Ahmed N. Khan said that a multi-pronged solution, involving public-private partnerships under a strict framework and policy was being worked out. This would aid the government in regulating and influencing the private sector to take a lead role in exploiting the existing potential. The company is undertaking a joint venture with Pakistan Mineral Development Corporation. The plan is to raise market awareness globally and reach 10 million tons of extraction by 2030. To fulfill the global demand for the Pakistani product, two processing and distribution facilities will be set up in China and Doha.
Ambassador Masood Khan appreciated the MSCI’s interest in promoting Pink Salt. He said that the government was committed to providing every possible facility to international investors and the business community intending to invest in non-traditional and traditional sectors of the economy.
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