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Algeria, Italy sign agreement for cereal storage facilities

ALGIERS- A shareholders’ agreement has been signed Wednesday in Algiers between the public group Batimetal and the Italian company Borghi for the creation of a joint venture specialized in the design and the construction of storage facilities, especially for cereals.

The new joint venture, 60% of which are held by Batimetal and 40% by the Italian company, will build in the first phase 30 sites of steel silos for the Algerian Inter-Professional Office of Cereals (OAIC), Minister of Industry, SME and Investment Promotion Cherif Rahmani said during the signing ceremony.

The industrial partnership will generate 300 jobs and will strengthen Algeria’s storage capacities of grains, cattle feed and oilseeds, as this equipment was up till now imported, said Rahmani.

For his part, the CEO of Batimetal, a subsidiary of the holding company Construmet (steel construction), Boudjemaa Talai underlined that this joint venture will benefit of the technology transfer.

He also hoped to be able to enter the European and Asian markets after meeting the domestic demand.

(APS) Wednesday 24 July 2013

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