The Millat Steel Iron Milling Plant marks a milestone with the inauguration of its second and third phases.
Today, on March 24th, the Milat Steel Factory celebrated the opening of its second and third phases dedicated to producing steel rods and I-beam steel. The ceremony, graced by Deputy Prime Minister for Economic Affairs, Mullah Abdul Ghani Baradar Akhund, underscored the significance of these developments in advancing the industrial sector.
Emphasizing the importance of industry growth for overall economic progress, Deputy PM highlighted the role these phases play in fostering national economic development. He reiterated the Islamic Emirate's commitment to ensuring stable electricity supply for industrial operations, exemplified by the signing of a contract to generate 23 megawatts of electricity in Sarubi district, Kabul.
Furthermore, assurances were made regarding the availability of raw materials, with four blocks of the Herat iron mine allocated to domestic and foreign companies through open bidding processes. Mullah Baradar Akhund referred to increased tariffs on foreign products which have local alternatives to bolster the local industry and encouraged the use of domestic goods, even if 10-15% lower in quality, to support national self-sufficiency.
Concluding his address, the Deputy PM urged industrialists and investors to channel resources into vital sectors like the steel industry, highlighting their pivotal role in national development and self-reliance. The second and third phases of the Milat Steel Factory, backed by a $50 million investment, boast significant daily production capacity, providing employment opportunities for approximately 2,000 individuals.
