Classifieds powered by Gulf News

Dubai-based company wins 49-year Afghanistan franchise

Gulf News

Rajen Kilachand
Jebel Ali-based International Petroleum and Trading (IPT) - a subsidiary of the Dubai-headquartered and Indian-owned construction company, Dodsal - has won a 49-year concession to set up a petroleum distribution infrastructure in war-torn Afghanistan.

The company will invest up to $230 million over the next 10 years to build a petroleum distribution network involving 700 retail outlets, storage facilities, a dozen terminals and associated developments.

Dodsal created IPT a few months ago to enter the field of petroleum distribution. It won the concession against a number of international and joint venture hopefuls.

An agreement was signed in Kabul yesterday by Sayed Mustafa Kazemi, Afghanistan's Minister of Commerce, who is also the chairman of the country's investment commission, and Rajen Kilachand, chairman and president of the Dodsal Group.

"The retail outlets, in keeping with international norms, will also have repair and maintenance facilities for vehicles as well as mini convenience stores stocking pharmaceuticals and basic household items," said Kilachand.

Dodsal will set up IPT's office in Afghanistan to carry out the projects. Its Afghanistan operations will be managed and looked after by its Dubai office.

The Asian Development Bank had initially agreed to grant aid for the development of the petroleum distribution infrastructure.