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Agreements on $3.7bn industrial projects inked

ALGIERS- The amount of three investment projects in the sectors of steel and textile industries with foreign partners exceeds $ 3.7 billion, Abdelkrim Mansouri, Director General of the National Agency for Investment Development (ANDI) said Tuesday in Algiers.

 "As part of the three projects, 11,000 jobs will be created for more than $3.7 billion of investment," said the head of the ANDI who has signed three investment agreements in the sectors of the steel and textile industry with foreign partners.

The first agreement, signed with Benabbas Ahmed, Chairman of the Board of Directors of ArcelorMittal Algeria aims at implementing the investment operation for the rehabilitation and extension of the El Hajar steel complex.

According to Amara Benyounès, Minister of Industrial Development and Investment Promotion, ArcelorMittal project tends to increase the company’s market share up to 34% in 2017 (against 11% in 2012), i.e. 1.1 million tones on the market of long products and from 40% to 80% in 2017 of flat products .

The total amount of the project is DZD57.6 billion.

The second agreement has been signed with Hasnaoui Chiboune, president of the Board of Directors of the Algerian-Qatari Steel Company. It aims at implementing and exploiting a project of Bellara (jijel) steel complex.

Currently under study, the joint venture between Qatari Steel industry and Group SIDER concerns the construction of a new steel plant and several mills with an overall capacity of 4 million tons per year.

 

As for the construction, it will be in two phases with a total cost of DZD169.7 billion.

With regard to the third agreement, it was signed by Toprak Husamettin, executive director of the Algerian textile industries Tayal SPA for the completion and operation of an industrial center of textiles in the industrial zone of Sidi Khettab (Relizane).

This joint project covers the realization of eight plants specialized in the manufacture of clothing (sportswear and jeans). The pole production volume will be approximately 30 million linear meters with the creation of 24,000 permanent jobs.

During the same ceremony, a cooperation contract between Algeria’s pharmaceutical group Saïdal and French Servier laboratories has been concluded for the technology and know-how transfer in the field of the licensed manufacture of drugs.

APS  Saturday, 12 April 2014

 

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