Taliban government signs a 25-year contract with a Chinese company for the extraction of oil from Afghanistan’s Amu River basin and to develop an oil reserve in the country's north
According to the contract, the Chinese company will invest $150 million in the first year which will increase to $540 million in three years.
The first major foreign investment deal since the Taliban seized power in Kabul in 2021 was signed on Thursday by acting Minister of Mines and Petroleum Sheikh Shahabuddin Delawar and an official of Xinjiang Central Asia Oil and Gas Company in a ceremony held at the capital Kabul. “Recently, several projects were approved by the Economic Commission, and with their undertaking, fundamental steps will be taken for the prosperity of the country and public welfare,” state-run Bakhtar News Agency quoted Baradar as saying.
Speaking on the occasion, the Chinese envoy called the deal important for the economic growth of the war-torn country and a positive step towards close relations between Kabul and Beijing.
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