11,172.75 TRY BIST 100 BIST 100
4.56 CNY CNY CNY
33.00 USD USD USD
35.93 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.17 TRY Interest Interest
82.37 USD Fossil Oil Fossil Oil
28.80 USD Silver Silver
4.15 USD Copper Copper
103.01 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,530.70 TRY Gold (gr) Gold (gr)

Milat Steel factory’s $50 million investment fuels industrial growth in Afghanistan

The investment infusion signals a vote of confidence in Afghanistan's potential as an emerging market, paving the way for further foreign investments and collaborations.

Milat Steel factory’s $50 million investment fuels industrial growth in Afghanistan

In a momentous event held in Kabul, Afghanistan, the Milat Steel factory marked the inauguration of its second phase with a substantial investment of $50 million. Company officials revealed that construction for the third phase is already underway, with operations set to commence within the next six months.

In a momentous event, the second phase of the Milat Steel factory was inaugurated with a fresh investment of $50 million. The ceremony, held on Sunday, witnessed the presence of Deputy Prime Minister Mullah Abdul Ghani Baradar and other esteemed government officials. This significant milestone marks a crucial step toward the development of Afghanistan’s industrial sector.

With the expansion of the steel industry, there is optimism that Afghanistan’s economy will flourish.

Baradar revealed that, Afghanistan is actively working to enhance power generation within the country. A contract has already been signed with a private company for the production of 23MW of power in the Sarobi district of Kabul.

The government has also inked contracts for iron extraction from four blocks of mines in western Herat province.
To bolster the industrial sector, Afghanista has raised import duties on iron items. Baradar encouraged the use of domestic products, even though imported goods may have superior quality.
The Milat Steel Factory boasts a daily production capacity of hundreds of tonnes of steel. It provides employment opportunities for approximately 2,000 workers.
In the current phase, the factory will produce railway tracks, beams, steel pipes, rebars, and plates.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

What are the expectations for imported scrap prices in Türkiye?

Tuesday, July 23, 2024

MMK announced its operating results for the 2nd quarter and 6 months of 2024

Tuesday, July 23, 2024

ArcelorMittal Poland closes coke battery in Krakow

Tuesday, July 23, 2024

Made in Steel 2025: Steel industry is shaping the future!

Monday, February 26, 2024

Egypt’s rebar market with price fluctuations and competitive offers this week

Tuesday, July 23, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now