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Thursday Jul 18, 2024

Chinese mining company to invest USD 350mn in Afghanistan

2023 Jul 08, 10:19, Kabul [Afghanistan]
Last year in July, Chinese Foreign Minister Wang Yi met with Taliban representative in Tianjin. (ANI/photo)

Fan China Afghan Mining Processing and Trading Company (FAMPTC) has said it would spend USD 350 million in Afghanistan in the next months in several industries, including electricity generation, the building of a cement factory, and healthcare, reported Khaama Press.

The FAMPTC representative discussed their investment intentions in a meeting with Maulwi Abdul Kabir, the political deputy and acting prime minister.

The projects and operational plans that will soon be carried out in Afghanistan are being worked on by professionals and specialists, according to a statement released by the prime minister's office, as per Khaama Press.

Khaama Press is an Afghanistan-based news agency established in 2010.

In response to 'Fan China Afghan's' investment proposal, Maulvi Abdul Kabir urged both domestic and foreign investors to recognise and take advantage of Afghanistan's many economic potential.

The government has shown a significant desire to welcome investors from a variety of industries, as evidenced by the recent considerable interest displayed by Chinese firms, particularly in the mining sector.

The Fan China Afghan Mining Processing and Trading Company (FAMPTC), according to the report, is a joint venture between the Watan Group of Afghanistan and the Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) of China.

The Chinese company, according to officials, has shown an interest in investing in Afghanistan's lithium reserves.

The Ministry of Mine and Petroleum said, "Several countries and investors have expressed interest in the lithium deposits in addition to the Chinese. The Chinese even said they are prepared to invest USD 10 billion."

China has exerted economic and mining-related influence in Afghanistan since the Taliban took control of the nation.

According to reports, the Chinese corporation has long desired to invest in the nation's USD 3 trillion-plus lithium mining, Khaama Press reported.


china Afghanistan USD 350 million Central Asia Petroleum and Gas Co lithium mining
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