Business
Afghan company to invest $142 million in Herat cement factory
An Afghan company will invest $142 million in a cement factory in Herat, officials said on Sunday.
The project’s contract was signed between the Acting Minister of Mines and Petroleum Shahabuddin Dilawar and Gulbahar Group.
The duration of the contract is 30 years and it is expected to employ 5,000 people directly and indirectly.
It is the third major cement manufacturing project after those in Kandahar and Parwan.
Dilawar said that all the materials needed to manufacture cement are available in Afghanistan, including coal.
According to him, currently hundreds of millions of dollars are spent on importing cement but once this factory is operational, along with the other two, Afghanistan will meet all its own needs and instead of importing cement, it will be able to export it.
Meanwhile, Khanjan Alokozay, a member of Afghanistan Chamber of Commerce and Investment, said conditions for investment are now more favorable as security has been ensured and corruption has declined.