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.