An agreement to explore for oil in the north of the country’s war-torn nation will soon be signed by Afghanistan’s Taliban-led government and a Chinese company. Since the Taliban took over Afghanistan in 2021, this would be the first significant energy extraction arrangement with a foreign company, according to the BBC. The 25-year agreement highlights China’s participation in the region’s economy. The Longan Hotel in Kabul, which was occupied by Chinese businesspeople, was assaulted by Islamic State (IS) militants on Thursday, according to Taliban sources.
The Taliban reported that eight IS terrorists had been slain and several more had been detained. Attack claimed at least three lives and wounded 18, including five Chinese nationals. According to Taliban spokesperson Zabihullah Mujahid, who was reported by the BBC, the oil extraction deal will allow the Xinjiang Central Asia Petroleum and Gas Company (CAPEIC) to conduct oil drilling in the Amu Darya basin.
The Chinese ambassador to Afghanistan, Wang Yu, stated during a news conference in Kabul that the Amu Darya oil contract was a significant initiative between China and Afghanistan. A copper mine in the east of the nation is also being discussed by a state-owned Chinese corporation. Natural resources worth more than $1 trillion, including copper, rare earths, and natural gas, are thought to be present in Afghanistan.
The country has seen decades of unrest, thus much of its reserves remain untapped. Beijing has substantial interests in Afghanistan, which is in the centre of a region crucial to China’s Belt and Road Initiative (BRI), even though Beijing has not officially recognised the Taliban government there, according to the BBC. The BRI, which President Xi Jinping introduced in 2013, offers funding to developing nations so they may construct infrastructure including ports, roads, and bridges.
Post Your Comments