PESHAWAR
Carium Innovation company has expressed interest to set up a unit for the production of the oil used as raw material in the manufacturing of pharmaceuticals, cosmetics and several other products in Khyber Pakhtunkhwa.
Carium Innovation is a Pakistani company, which also has Chinese shareholders, planned to establish an industrial unit at Gadoon Economic Zone and in the first phase an investment of US$ 1.6 million is expected in the project. For this purpose eucalyptus, tobacco and other herbs would be used as raw material of the product.
In this connection, a meeting was held at Khyber Pakhtunkhwa Board of Investment & Trade (KP-BoIT) with Special Assistant to KP CM on Industries, Commerce and Technical Education, Abdul Karim Khan Tordher in the chair here on Thursday.
Besides, Managing Director (MD) Carium Innovation Dr Sami Iqbal, Director Business Facilitation KP-BoIT Iqbal Sarwar, other authorities of the board and the representatives of the University of Swabi and concerned departments also attended the meeting.
During the meeting MD Carium Dr Sami Iqbal gave a detailed presentation regarding the proposed project of extracting of oil through using modern technology and informed the participants about its importance and potential in Khyber Pakhtunkhwa.
He said that through the proposed project, oil used in the manufacturing of pharmaceuticals, cosmetics and other products would be extracted. He further said that for the production of the required herbs and its development, the local farmers could be imparted training. The locally produced herbs produced by the farmers would be procured by the company as a raw material.
The MD Carium requested for the issuance of the required no objective certificate (NoC) and facilitation required in other phases of the project.
Speaking on the occasion, Special Assistant to KP CM on Industries, Commerce and Technical Education, Abdul Karim Khan Tordher termed the initiative a unique project of its kind and said that in this connection KP-BoIT would provide assistance to the investors from all aspects.
He also proposed facilitation to the investment group to extract oil from the maximum level available resources olive in the province while the utilization of suitable and specious land at the University of Swabi and Pehur High Level Canal for the production of the medicinal plants required for the production of the oil.
For this purpose, matters relating to the activation of a lab established at the University of Swabi and joint efforts with the company also come under discussion.
The Special Assistant said that various species of medicinal plants are found across Khyber Pakhtunkhwa. However, no industries for their utilization are available at local level.
