ISLAMABAD-Pakistan Mineral Development Corporation and Miracle Saltworks Collective Inc. USA have signed a memorandum of understanding (MoU) for establishing export quality pink rock salt crushing & packaging facility, promising a foreign direct investment of $200 million.
Pakistan Mineral Development Corporation (PMDC) under the control of Ministry of Energy (Petroleum Division) and Miracle Saltworks Collective Inc. (MSCI), based in Wisconsin, USA, have embarked partnership with the signing of a memorandum of understanding (MoU). This non-binding MoU envisages establishing a state-of-the-art pink rock salt crushing and packaging facility for export purposes under theme of “Pink Prosperity”.
Managing Director PMDC Engr Asad Ahmad and Ahmad Nadeem Khan, CEO, MSCI signed MoU on behalf of their companies. This collaborative endeavor marks a significant milestone and promising a surge of foreign direct investment amounting to $200 million. The envisioned plant will be setup at Special Economic Zone located in the district Mianwali, Punjab. Talking to media, on the occasion, Managing Director PMDC Asad Ahmed said that modern pink rock salt crushing and a packaging facility will be established. This facility will be used only for the export of salt, through which Pakistan will be able to make a prominent place in the world market of pink salt.
Asad said that there is a $12 billion market for pink salt in the world. He said:“We will try to take our share in the international market and this pink salt will be sold in the name of Pakistan.” “We can export one and a half million tons of pink salt annually,” he added. The pink rock salt facility is exclusively dedicated to export salt base products to international markets which will contribute substantially to Pakistan’s foreign revenue. By harnessing state of the art technology and best practices in the industry, the initiative aims to position Pakistan as a prominent player in the global pink rock salt market. This endeavor is expected to not only bolster economic growth but also cast a spotlight on the nation’s unique pink rock salt on the international stage. MSCI will also undertake CSR activities including community development, health facilities and women empowerment etc. for inclusive and substantial development in the area of operations.