Tue, Oct

Alokozay Group poised to invest $348m in Kabul


alokozay-groupThe Supreme Investment Council (SIC) on Tuesday confirmed the Alokozay Group of Companies would invest $348 million in various projects in capital Kabul.

The Jebel Ali-based Alokozay Group of Companies had earlier requested acquisition of 71 acres of land to invest the amount.

Roohullah Ahmadzai, the Afghanistan Investment Support Agency (AISA) spokesman, told Pajhwok Afghan News the group wanted to invest in food and tissue paper production.

He said the investment would help generate 2,000 direct and 10,000 indirect job opportunities in Kabul.

According to Ahmadzai, the SIC in its Monday meeting praised the Alokozay group for its investment plans in Afghanistan and accepted its request for the acquisition of more than one hundred acres of land.

The SIC is comprised of advisor to the president on economic affairs, the mines and petroleum minister, the AISA director, secretaries of economy, agriculture, urban development ministries.

Headed by the minister of trade and commerce, other members of the council are directors of civil aviation and the Afghanistan Chamber of Commerce and Industries (ACCI).

According to AISA, so far $11 billion investment has been made in the country since 2001.