Washington D.C., 16 May 2023 (TDI): In a groundbreaking move, Miracle Saltworks Collective Inc. (MSCI), a leading American company specializing in the import, manufacture, and supply of sea salt, has announced plans to invest nearly $200 million in Pakistan’s Pink Himalayan Salt industry.
The momentous investment will encompass various aspects, including feasibility studies, reserve reports, mining procedure upgrades, construction of state-of-the-art processing and packaging facilities, as well as community development programs.
Pink Himalayan Salt, mined in Pakistan’s renowned Khewra Salt Mine located in the Jhelum district of Punjab, has long been revered for its potential health benefits and is widely used by health professionals. Recognizing Pakistan’s geographic monopoly on this invaluable resource, MSCI has identified significant reserves of Pink Salt, estimating a potential annual earning of $12 billion for the country.
With an estimated 22.22 billion tons of natural resources concentrated in the Salt Range areas of Kala Bagh, Warcha, Khewra, and Bahadur Khel, Pakistan holds immense potential to ignite substantial economic activity. Currently, the country only retains $70 million from Pink Salt exports due to a lack of a comprehensive policy framework and adequate facilities for processing, packaging, and global distribution.
MSCI’s President and CEO, Ahmed N. Khan, highlighted the company’s commitment to forging a multi-pronged solution through public-private partnerships and a clearly defined policy. This approach aims to assist the government in regulating the industry and encouraging private sector participation to maximize the existing potential.
To ensure global market awareness and meet the increasing demand for Pakistani Pink Salt, MSCI plans to establish two world-class processing and distribution facilities in Doha and China. The company aspires to achieve 10 million tons of verified extraction by 2030.
Pakistan’s Ambassador to the United States (US), Masood Khan, expressed his appreciation for MSCI’s interest in investing and promoting the Pink Salt industry in the country. He assured the company’s leadership of the government’s commitment to facilitating international investors and the business community interested in both traditional and non-traditional sectors of the economy.
Highlighting Pakistan’s unique geostrategic location, Ambassador Masood Khan emphasized its potential to serve vast markets in Central and West Asia, the Middle East, and North Africa. He underscored the substantial global market for Pink Salt, making it an attractive and profitable business venture.
The Embassy of Pakistan extends its unwavering support to MSCI in facilitating the swift finalization and implementation of its business plan. Pakistan remains committed to creating an enabling environment for international investors and welcomes their contribution to the country’s economic growth.