Saturday, May 25, 2024

Afghanistan: Contracts worth $6.5 billion signed to launch mining sector revival

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

On Thursday, the Ministry of Mines and Petroleum signed contracts totalling $6.557 billion with several companies to develop seven large-scale mines.

In the presence of Abdul Ghani Baradar, the acting Deputy Prime Minister for economic affairs of the Taliban administration, several significant contracts were signed. These agreements pertained to the development of four sections within a significant iron ore mine in the Ghorian district of Herat province.

Remarkably, Watan Darakhshan Company and its subsidiary Azaran Industrial Structures Company, secured the contract for the initial section. These contracts mark an essential step towards resource utilization and economic growth within the region, facilitated by partnerships between the Afghan government and private enterprises.

This move could contribute to the province’s economic development and create opportunities for local employment while showcasing the Ministry’s efforts to engage with the private sector in driving sustainable economic progress.

In the progression of these contracts, Sahil Middle East Mining & Logistics Company, in collaboration with Afghan partner Dara-e-Noor and Turkish partner Epcol, secured the contract for the second section. In contrast, the third section contract was awarded to Afghan company Shams and British companies GBM and AD Resources. The fourth contract found its recipient in Bakhtar Steel Company and its Iranian partners Ahya Sepahan and Persian, collectively signifying diverse partnerships to develop and utilize sections within the significant iron ore mine in Herat Province, Afghanistan.

Furthermore, the contract for a specific section of the lead and zinc mine located in the Tulak district of Ghor province was granted to Afghan Invest Company.

The contract to extract gold from the Samti mine in Takhar province’s Chah Ab district was assigned to China-Afghanistan Company with shareholder Zarawar Afghanistan Private Company involvement.

Additionally, the second Mes Aynak mine in Logar province’s contract was awarded to Turia Private Company.

These seven projects will see a substantial investment of $6.557 billion, fostering the creation of numerous job opportunities and contributing to economic growth.

Amidst the international non-recognition and sanctions, these mineral resources could be a pivotal asset to uplift the nation from its dire circumstances. The responsible and strategic utilization of these resources might provide a means to address the pressing economic and social challenges Afghanistan faces, potentially paving the way for a more stable and self-sufficient future.

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