US company, Miracle Saltworks Collective Inc., plans to invest nearly $200 million in curating, processing, distributing, and importing Pink Himalayan Salt from Pakistan.
According to 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 conveyed their plans.
The investment would be made in preparing feasibility, reserve report, upgradation of mining procedures and processes, construction of world-class processing and packaging facility, and community development programs.
During a briefing by the top leadership of Miracle Saltworks Collective Inc. (MSCI), it was informed that Pakistan, with its geographical monopoly of the resource, has huge reserves of Pink Salt with a potential earning of $12 billion annually.
According to an estimate, the country possesses approximately 22.22 billion tons of the natural resource, concentrated mostly in Salt Range areas of Kala Bagh, Warcha, Khewra, and Bahadur Khel, with an immense potential of kick-starting massive economic activity.
MSCI President Ahmed N. Khan informed that a multi-pronged solution featuring public-private partnership under a clearly defined policy was being worked out to assist the government in regulating and encouraging the private sector to take a lead role in exploiting the existing potential. It was informed that the company was undertaking a joint venture with Pakistan Mineral Development Corporation.
The company plans to raise market awareness globally and reach 10 million tons of verified extraction by 2030. Two world-class processing and distribution facilities would be established in Doha and China to fulfill global demand for Pakistani product.
Ambassador Khan welcomed MSCI’s interest in making investments and promoting Pink Salt. He said that the government was committed to providing every possible facilitation to international investors and the business community intending to invest in traditional and non-traditional sectors of the economy.
The ambassador assured the leadership of Miracle Saltworks of every possible support of the embassy in facilitating early finalization and implementation of their business plan in the country.
