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More than $5 billion to be invested in first phase of Aynak Copper project in Logar province
Mawlawi Abdul Kabir, Deputy Prime Minister for Political Affairs, met with Song Wen Bing, President of the Mes Aynak Copper Contracting Company, this week and emphasized that once copper starts being extracted, the country’s mining revenue will be boosted.
According to a statement issued by the ministry, Song reiterated the company’s commitment to ensuring the timely initiation of extraction activities in line with the agreed schedule and operational plan.
Song meanwhile stated that more than $5 billion will be invested in the first phase of the project, with initial mining operations expected to start once the road to the site has been constructed.
He said the necessary machinery is scheduled to be imported next year.
Song also noted that the project will create jobs for 3,000 Afghans and that a group of Afghans will be sent for vocational training in China.
He also said that the surrounding historical sites and changes in the mining plan have contributed to delays in the project.
The Aynak copper mine contains millions of tons of copper and is believed to have the second largest copper reserve in the world.
The contract for the Aynak copper mine was signed in 1999 with the Chinese company MCC for 30 years, but due to security issues and prolonged excavations of ancient relics in the area, the extraction of copper was delayed.
A critical road to the mine has also been a challenge, but construction work on this recently got underway.
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Afghanistan suspends 7 private universities for one year, revokes licenses of 2 others
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Russia eyes railway route via Afghanistan as alternative to Strait of Hormuz
Russia should explore establishing a railway route to the Indian Ocean through Afghanistan to reduce risks associated with the Bosphorus and Strait of Hormuz, Russian Deputy Prime Minister Marat Khusnullin said.
Speaking in an interview with TASS, Khusnullin said alternative rail routes could pass through Turkmenistan, Iran, Afghanistan and Pakistan before reaching India.
“A rail link to the Indian Ocean should also be explored,” Khusnullin said. “Risks related to the Bosphorus and the Strait of Hormuz might require alternative routes: through Turkmenistan, Iran, Afghanistan, and Pakistan. Any options providing access to India are acceptable.”
The proposal comes amid concerns over the security and reliability of shipping through the Strait of Hormuz following the escalation of tensions involving the United States, Israel and Iran.
The Strait of Hormuz is a major global energy route, through which a significant share of the world’s oil and liquefied natural gas shipments passes.
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Foreign companies eye investment in Afghanistan’s electrical equipment industry: DABS
Officials of Da Afghanistan Breshna Sherkat (DABS) say several major companies from neighboring countries, including Russia, are interested in investing in the production of electrical equipment in Afghanistan.
The officials added that Afghanistan has the capacity to attract millions of dollars in investment in the production of electrical equipment.
According to DABS officials, a large portion of the equipment required by Breshna is purchased from neighboring and other countries, and increasing domestic production could reduce the country’s reliance on imports to some extent.
Meanwhile, private-sector representatives said investment in the production of electrical equipment is a serious need. They stressed that investment in the development and production of electrical equipment should be accelerated to reduce imports and increase domestic production.
They said the move would not only reduce reliance on imports but also create employment opportunities for thousands of people.
Economic analysts also said that, alongside electricity generation, investment in the production of equipment used for electricity generation and transmission should be increased. This would allow domestically produced electrical equipment to enter the local market and help reduce imports of foreign products.
Currently, electrical equipment is imported into Afghanistan from various countries, including China, Iran and Turkey.
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