Afghanistan: $50 million investment marks second phase inauguration of Milat Steel Factory

KABUL, Afghanistan — The Milat Steel factory, specializing in iron smelting, launched its second phase with a $50 million investment during a ceremony in Kabul on Sunday.

Company officials announced that construction for the third phase is underway, with plans to commence operations within six months.

Naqibullah Nazari, the factory’s head, highlighted that the expansion has created employment opportunities for over 2,000 individuals. The facility currently produces Grade 60 reinforcement rebar, a critical component in construction.

“During the upcoming third phase, we aim to start manufacturing railroad materials,” Nazari stated, emphasizing that half of the iron processing is conducted domestically.

He also appealed to the Taliban government to lower the export tariffs on rebar to facilitate international trade. Nazari revealed an export agreement for 100 tons of rebar with Uzbekistani companies, indicating a significant step towards international business relations.

With the initiation of the third phase, company representatives anticipate a further increase in job opportunities at the factory.

Abdul Ghani Baradar, the Taliban’s Deputy Chief Minister for the Economy, attended the ceremony and declared an increase in import tariffs to bolster domestic manufacturing.

Established in 2022, Milat Steel is emerging as a key player in Afghanistan’s industrial sector, contributing to both the local economy and employment.