PMDC and MSCI Forge Partnership for Pink Rock Salt Venture

Staff Report

Pakistan Mineral Development Corporation (PMDC) and Miracle Saltworks Collective Inc. (MSCI) have signed a joint venture agreement for an Export-Quality Pink Rock Salt Crushing & Packaging Facility

Pakistan Mineral Development Corporation (PMDC) and Miracle Saltworks Collective Inc. (MSCI) have cemented a historic joint venture for a Pink Rock Salt Crushing and Packaging Facility in Pakistan, facilitated by SIFC.

The official signing ceremony occurred at the Marriott Hotel, Islamabad, on February 20, 2024, graced by the honorable presence of His Excellency Anwaar-ul-Haq Kakar, the Prime Minister of Pakistan, as the Chief Guest. Minister for Energy Mr. Muhammad Ali, Secretary Petroleum Division Momin Agha, and other dignitaries also bore witness to the occasion.Pakistan launching Salt project worth $750m in Gwadar

In a significant step toward advancing Pakistan’s mineral-driven economy, PMDC and MSCI have solidified their collaboration by signing a Joint Venture Agreement. This agreement builds upon the Memorandum of Understanding (MoU) signed in August 2023 and underscores the commitment to the “Pink Prosperity” initiative.

Engr. Asad Ahmad, Managing Director of PMDC, and Mr. Ahmad Nadeem Khan, President/Chairman BoD of MSCI, have formalized their partnership to establish a state-of-the-art Pink Rock Salt Crushing and Packaging facility dedicated to exporting salt-based products to international markets. The project is expected to attract significant foreign direct investment of 200 million USD, showcasing the confidence and enthusiasm of the international community in this groundbreaking venture. Commercial production of 150,000 tonnes per annum is projected to commence from June 2026.

The planned facility will be strategically located in the Special Economic Zone in District Mianwali, Punjab, Pakistan, employing cutting-edge technology and industry best practices. This move aims to position Pakistan as a key player in the global Pink Rock Salt market, leveraging its unique resources and expertise.

Beyond the economic impact of the collaboration, the initiative is expected to make a substantial contribution to Pakistan’s foreign revenue. MSCI, in line with its commitment to corporate social responsibility (CSR), will actively engage in community development, health facilities, and women empowerment initiatives in the operational area. This holistic approach aligns with the broader goals of social progress and economic growth, reflecting dedication to inclusive and sustainable development.

This event marks a historic moment in the pursuit of economic advancement and global recognition for Pakistan’s Pink Rock Salt industry, signaling a new era of prosperity and collaboration.