In the latest deal, China’s Xinjiang Central Asia Petroleum has signed an oil and gas deal with the Taliban. The company said it would develop the Abu Dayra basin over the next 3 years.
More than a year has passed since the Taliban came to power in Afghanistan! For the first time since coming to power, the Taliban has signed an overseas deal with China to extract oil and gas worth $540 million.
The acting Mines Minister gave this information on Thursday.
News conference officials in Kabul told that this contract has been done with Xinjiang Central Asia Petroleum and Gas.
This would be the first agreement signed by the Taliban administration with a foreign company since assuming power in 2021. It also reflects the economic involvement of neighboring China in this troubled region. However, the Islamic State terrorist group has targeted several Chinese nationals in Afghanistan. “The Amu Darya oil contract is an important project between China and Afghanistan,” Chinese Ambassador Wang Yu told a news conference.
$150 million investment every year
It should be noted that China has not formally recognized the Taliban administration. But it has a keen interest in the country, which is a key area for the Belt and Road Infrastructure Initiative. Under the contract, the Chinese company will invest $150 million in Afghanistan every year. Taliban government spokesman Zabihullah Mujahid gave this information on Twitter. Its investment will increase to $540 million over three years for a 25-year contract, the spokesperson said.