Farukh, Abdul Karim
|Name||Farukh, Abdul Karim|
|Date of birth|
|Function/Grade||Ghauri Cement Factory Ghori President|
|History and Biodata||
Muhammad Arif was the President of the Ghauri Cement Factory. Mahmoud Karzai, brother of President Karzai, took on his biggest venture when he and other investors assumed control of Afghanistan’s only cement factory Ghauri in Baghlan Province.(20100305)
Head of Ghori Cement Factory:
Afghanistan's largest cement company Ghori Cement said its woes are linked to the process of its privatisation back in 2007, with the company's chief (Farukhi) blaming poor investment standards. The agreement which transferred Ghori Cement Plant from government ownership to the private sector was not according to sound investment principles, head of Ghori Abdul Karim Farukh said. The company was privatised with the aim of meeting the bulk of cement demand in Afghanistan, estimated to be more than 300 million tonnes per year, but its second plant in northern Baghlan province is already facing bankruptcy. The five-year contract between the Ministry of Mines and private sector (Mahmoud Karzai) was done so rapidly and not according to proper standards. Investment principles were not taken into consideration. (20120520) The company is understood to have a total capital worth of $50 million. Its second cement plant, worth $28 million, was opened in Baghlan's main city Pul-e-Khumri July 2011.