U.S. corporation to construct five-star hotel in Kabul

The Afghan government and a U.S. company signed an agreement on Monday to construct a five-star hotel Marriot in Kabul.

Mir Mohammad Amin Farhang, Minister for Commerce and Industries, and Robert Mosbacher, the President of Overseas Private Investment Corporation (OPIC),signed the agreement here.

The 80-million U.S. dollar project financed by OPIC would be completed within the next two years and would be managed by Marriot International, Minister Farhang said.

The launching of the project would encourage more companies to invest in Afghanistan, he added.

It is the second five-star hotel built in the post-Taliban Afghanistan over the past five years. The first one, Kabul-Serena Hotel, was constructed two years ago.

The new 209-room Marriot Hotel, after completion of 49-year lease, would be transmitted to Afghan government.

"Today's signing represents tangible progress in advancing this important hotel project as well as our broader, continued commitment to Afghan reconstruction and renewal," said OPIC President Robert Mosbacher.

Source: Xinhua