KABUL - The Cabinet has decided to sell 144 acres of government land near the Kabul International Airport against $350 million to the Alokozay Group of Companies (AGC) for establishing six factories.

A statement from the Office of Administrative Affairs said the decision was made during a Cabinet meeting chaired by President Ashraf Ghani on Tuesday.

The statement added Finance Minister Eklil Hakimi presented the meeting a report about the land’s handover procedure.

The land worth $350 million would be allocated to six industrial factories to be run by the AGC, the statement said.

The Cabinet also approved the contract of selling the land to the AGC and ordered the head of the High Commission for Investment (HCI) to sign the contract with the company following the Cabinet directives.

In February 2015, the HCI had confirmed the AGC’s request to purchase the 144 acres of land for $348 million.

Afghanistan Investment Support Agency (AISA) had said that the AGC planned to set up factories producing macaroni, tissue papers, biscuits, chips, packages and printing houses in Kabul. The AISA had said around 13,000 people would be provided jobs directly or indirectly in the factories.

The AGC had asked the government to provide 144 acres of land for establishing factories in Kabul.

Headquartered in Dubai, the AGC has a strong presence in Afghanistan and Turkey. The company is currently producing several kinds of beverages in Kabul, tissue papers and tea in Dubai and processing ghee in Turkey.

According to AISA, over $10 billion has been invested in different areas across the country during the past 13 years.

However, the agency said a survey would be launched soon to determine the exact amount of investments in Afghanistan.

The Cabinet meeting was also presented a report by Labour and Social Affairs Minister Nasrin Oryakhil about vacancies in government departments, the procedure of recruitment and problems in the employment process. (Pajhwok)