Egypt plans to invest 7.4 billion dollars in Algeria, says Algerian industry and investment promotion Minister
الشروق أونلاين
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According to the Minister of industry and investment promotion Abdelhamid Temmar, Egypt is set to invest a total of 7.4 billion dollars in Algeria in such sectors as petrochemicals, cement and iron and steel manufacturing as part of a beefed up cooperation with Algeria.
According to the Minister of industry and investment promotion Abdelhamid Temmar, Egypt is set to invest a total of 7.4 billion dollars in Algeria in such sectors as petrochemicals, cement and iron and steel manufacturing as part of a beefed up cooperation with Algeria.
The Egyptian investors are planning to contribute to the construction of a brand-new cement factory in the south eastern province of Djelfa for a financial amount of 400 million dollars.
Abdelhamid Temmar also indicated that the Egyptian partners were also intent on achieving a steel complex in the region of Bellara in Jijel province as well as a petrochemical complex, at the initiative of the Orascom group, for an overall financial package of about 5 billion dollars in addition to other costly investment projects in other parts of the country.
This breakthrough came in the wake of the fruitful proceedings of the Algerian-Egyptian higher joint cooperation commission which wound up on Sunday in Algiers .
The two sides initialled, to this effect, a total of 19 new agreements aimed at further upgrading and diversifying cooperation ties and exchanges between Algeria and Egypt in manifold fields of endeavour.
