The Qatar Industrial Manufacturing Company (QIMC) and the country’s Mesaieed Petrochemical Holding Company (MPHC) have entered a joint venture to set up a $290 million salt factory.

The factory, which will have a capacity to produce 1 million tonnes of industrial salt and table salt annually, will cater to the local market while exporting surplus salt products to regional and global markets, the companies said.

Qatar currently imports about 850,000 tonnes of various types of salt, annually.

The project will also provide a sustainable solution to treat brine from desalination plants and convert it into products, the company said.

Established in 1990 with a 20% government and 80% private equity split, QIMC has interest in operational projects in diverse industrial sectors including chemicals, petrochemicals, construction materials and food processing.

The state-owned QatarEnergy is the founder and majority stakeholder of MPHC.

(Writing by Bindu Rai, editing by Seban Scaria)