KABUL (SW): The Ministry of Mines and Petroleum has cancelled the Afghan Investment Co. (AIC)’s contract to operate Ghori cement factory in Baghlan province.
Nargis Nehan, caretaking minister at the MoMP, informed the High-Economic Council has taken this decision. AIC stands accused of not having met its contractual provisions to modernise of the factory and the appendant four coal mines that provide the coal needed for firing the kilns.
Mehmood Karzai, brother of the former president Hamid Karzai, is one of the AIC shreholders.
AIC stands accused of not having met its contractual provisions to modernise of the factory and the appendant four coal mines that provide the coal needed for firing the kilns.
The minister informed AIC was bound to invest up to $ 152 million in the factory, but it has only invested $ 51 million. “The AIC has acquired $ 13 million worth of loan from the ministry, but did not clear the dues in the past ten years”, she said.
We wished to have the views of the AIC on this matter, but to no avail.
Separately, the minister informed no progress has been made after the extraction contract signed with a private firm six years ago for the gold and silver mines in Ghazni. She warned if the private contractor failed to update the MoMP about state of the project, the contract would be cancelled.
ENDS
