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Alokozay Group to establish 6 factories worth $350m

Alokozay Group to establish 6 factories worth $350m

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Jul 04, 2016 - 18:56

KABULinfo-icon (Pajhwok): The Afghan government and the UAE-based Alokozay International Limited on Monday signed an agreement on the group’s investment in 72 acres of land.

The agreement was signed between government officials and the Alokozay Group of Companies (AGC) representatives at the Presidential Palace.

Finance Minister Eklil Hakimi said on the occasion that the land belonged to the civil aviation department and it was handed over to the AGC after fixation of its price.

He said the group would establish six factories worth $350 million on the land and the products produced at the factories would not only be consumed in the country but a 40 percent of them would be exported to foreign countries.

He said the factories included printing houses, carton manufacturing, tissue papers and edibles. He said the factories would provide direct jobs to 2000 people and indirect jobs to 10,000 individuals.

The minister said the investment would not only help increase the government’s revenue but would also encourage other businessmen and companies to make investments in Afghanistaninfo-icon.

AGC representative Nimatullah Babkarkhel said the group had already invested $400 million in Afghanistan. He said the also AGC planned to construct a well-equipped hospital at a cost of $300 million in order Afghans shun reliance on hospitals in foreign countries.

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