American, European Companies to accomplish Housing Projects worth $ 50 billion

Senior delegation of American businessmen is visiting Algeria, from 1 to 4 December, to discuss investment opportunities in the areas of construction, public works and pharmaceutical products.

The delegation, led by the Head of Algerian-American Business Forum, Ismail Shaikhoun, Minister of Housing and Urbanism Abdelmadjid Tebboune, General Managers of Algerian public institutions, especially in the field of building and public works, and GM of the Company of Conducting the State’s Contributions, will meet on the eve of the Algerian-American Business Forum, to be held in Algeria early 2013.

Ismail Shikhoun revealed that many American institutions in the sector of construction and public works, are ready to work and invest in Algeria, and they are fully prepared for the transfer of expertise and modern technologies applied in the U.S. market in the industry of housing and production of building materials, according to modern standards, which economize energy and contribute to the acceleration of achievement, a new terms that were set by the Algerian government within the framework of the new strategy to give new dynamism to the sector.

The U.S. delegation, which is visiting Algeria, includes eight large companies from the state of California, which specializes in the field of earthquake-resistant buildings, a technique that is needed by Algeria and especially with the presence of dramatic construction projects in the northern region of the country, where the near-constant seismic activity.

U.S. construction companies have important achievement capabilities, compared to their Algerian and even European counterparts, especially since Algeria is seeking to accelerate the implementation of a large housing program worth more than $ 50 billion, which runs until 2020.

A senior source from the Ministry of Housing and Urbanism, told Echorouk on Saturday, that the company of Running the State’s Contributions signed today in Algiers, a protocol of agreement with a group of Spanish companies, which is the second of its kind in less than a month, with a European party, as it determined the conditions for the entry of Spanish construction companies to the Algerian market, to accelerate the pace of completion of the president’s program, and to develop the Algerian housing industry, according to the new strategy, which is based on the completion of residential complexes, which provide all means of life and entertainment, according to the latest modern standards.

Echorouk source added; “The agreements to create mixed institutions in the housing sector, aim to accelerate the pace of achievement and strengthen national capacities in the field of Algerian construction, renovation and modernization of tools for achievement, under the new dynamic which is launched by the Minister of Housing and Urbanism, depending on the element of framing and composition in all disciplines by foreign partners, in addition to the introduction of the latest techniques and technology, that is used in the developed countries, pointing out that the government is keen to oblige foreign partners to bring their plants and units of productivity, that are specialized in the production of building materials, with the same techniques that are used in the countries of origin, to transfer expertise for Algerian partners, and to young people in all disciplines.

The source said, that the Algerian government is interested in addressing the observations made ​​by European companies, which are specialized in the construction and public works, including those related to accomplish prices per square meter of housing that are completed with the support of the public treasury in accordance with the known formulas.

European companies which are committed to working under the terms of the law 51/49 review prices of achievement per square meter from 36.000 dinars on average, to levels close to 50.000 dinars per square meter, in order to give better flexibility in dealing with the projects, added to their interest in the completion of large projects.