This collaboration will potentially open up opportunities for exporting processed aluminium ore to the Middle East, thereby boosting bilateral trade and stimulating economic growth in the region.
On November 27, the declaration was made by Kohinoor Spinning Mills Limited (KSML), keeping the Pakistan Stock Exchange (PSX) as an audience. The statement released said: "We are in serious discussions with UAE and Pakistan-based stakeholders to transform the (textile) company into a mining and mineral technology company as KOMS is strategically located near mineral reservoirs and possesses a vast area of 81.5 acres (652 Kanals) of freehold land."
NT has expressed its intention to invest approximately 30 million UAE Dirhams (around Rs2.5 billion) in Pakistan to establish a raw and value-added mineral-based business. As part of this initiative, KOSM will be installing an Ore Beneficiation Plant with the support of NT in their current facility to process bauxite (aluminium ore) and enhance its purity.
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