Abu Dhabi Prince visits Algeria

Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan arrived Tuesday to Algeria on a working visit accompanied by an important delegation of investors.

• Sheikh Mohammed bin Zayed was received by Abdelkader Ben Saleh, speaker of Algeria’s Senate Abdelkader Bensalah and other senior Algerian officials.
• United Arab Emirates represent a large part of foreign investments in Algeria.
• UAE Property giant Emaar plans to build four projects in and around Algeria’s capital including the new town of Sidi Abdellah.
• Al Salam bank started operating in Algeria as one of the largest banks in North Africa with a paid up capital of $100 million.
• In April, Abu Dhabi’s state investment arm Mubadala bought 20 percent of Royal Dutch Shell’s stake in production and exploration projects in Algeria. Mubadala already holds investments in power stations and oil and gas projects in the country.
• Dubai‘s port operator DP World will invest $108.3 million over 3 to 4 years to manage the ports of Algiers and the port of Djen-Djen (east of Algeria).