The Milat Steel factory, a cornerstone of Afghanistan's burgeoning industrial sector, celebrated the inauguration of its second phase with $50mn investment during a ceremony held in Kabul on March 24, AMU reported. Spearheaded by the Samiullah Fahim Group of Companies, the factory specializes in iron smelting and aims to bolster the nation's economy while creating thousands of job opportunities.
Company officials revealed plans for the commencement of construction on the third phase, slated to be operational within the next six months. Naqibullah Nazari, the factory’s head, underscored the strides made in job creation, with over 2,000 individuals already employed by the facility. Nazari emphasized the critical role Milat Steel plays in producing Grade 60 reinforcement rebar, an essential component in the construction industry.
"We are proud to announce that half of the iron processing is now conducted domestically," stated Nazari, signaling a pivotal shift towards self-sufficiency in Afghanistan's steel production.
Looking ahead, he expressed ambitions to diversify the factory's offerings by venturing into manufacturing railroad materials during the upcoming third phase.
In a bold appeal to the Taliban government, Nazari urged for a reduction in export tariffs on rebar to facilitate smoother international trade. He disclosed an export agreement for 100 tons of rebar with Uzbekistani companies, marking a milestone in the factory's quest for international business relations.
The attendance of Abdul Ghani Baradar, the Taliban’s Deputy Chief Minister for the Economy, at the ceremony underscored the government's support for domestic manufacturing initiatives. Baradar announced an increase in import tariffs, a move aimed at bolstering local production and reducing dependency on foreign imports.
Established in 2022, Milat Steel has swiftly emerged as a key player in Afghanistan's industrial landscape, aligning with the nation's goals of economic growth, reduced import reliance, and increased self-sufficiency. With a seasoned leadership team, a skilled workforce, and adherence to international quality standards, Milat Steel stands poised to further elevate Afghanistan's industrial capabilities.
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