KABUL (SW): Groundbreaking ceremony for the country’s largest iron casting factory took place in the capital Kabul on Wednesday.
It is hoped the factory, “Khan Steel” would start manufacturing world class iron bars within six months of its inauguration. The factory is stretched at some 15 jeribs of land in the industrial area, Kabul.
Khan Steel aims to meet 40 percent of iron and steel requirement of the country.
Abdul Sattar Murad, Minister for Trade and Commerce said on the occasion that the government fully backs the private sector. He underlined the importance of the private sector in leading the country to self-reliance.
Hazrat Umar Zakhailawal, Presidential Advisor on Economic Affairs, was also present in the groundbreaking ceremony. He said stressed that such endeavors are crucial in lifting the economy and creating more jobs. He noted that a number of investors have fled the country owing to worsening security situation.
Peace and security is vital for economic growth, he said.
Khan Steel is a joint venture of two businessmen that aims to meet the country’s 40 percent requirement for iron. There are currently 8 iron casting factories functional in the country that annually produces some 600 tons of iron rods.
ENDS
