Italian Giant Obtains Concession for Grain Production in Algeria
The largest Italian company for the production of grains, especially durum wheat, listed on the Milan Stock Exchange, has obtained a final concession contract in Algeria, to exploit 900 hectares in the south of the country, as part of a previous agreement between the leaderships of the two countries to support this field and raise its production locally.
In this context, a statement issued by Bonifiche Ferraresi on Tuesday -a copy is available to Echorouk-, said that its CEO, Federico Vecchione, had signed final (binding) agreements that allow the company to obtain an agricultural concession in Algeria, noting that the process allows the completion of the process of granting lands destined for agriculture in the south by the Algerian government, which allocated 900 hectares for the operation.
The source stated that an Algerian-Italian mixed company was created specifically for this purpose, through a local Algerian partner, represented by Ben Mallem Imad Ben Houcine (Copre Sud), and the majority of it will be in favour of the Italian party, Bonifiche Ferraresi.
The statement described the launch of a branch of the company in Algeria as an additional step for the group towards implementing international development projects, especially in North Africa, which will depend on the experience, knowledge and competencies that the company possesses, as well as with the support of local partners.
The company considered the launch of its branch in Algeria “an essential step to activate projects on Algerian territory, by providing the foundations for a sustainable and profitable presence in this country,” noting that the signing of the launch of the branch came on the sidelines of the visit of the Italian Minister of Agriculture, Food Sovereignty and Forestry Francesco Lollobrigida to Algeria (on Monday).
The Italian company listed on the Milan Stock Exchange confirmed that it will be committed to providing production, work and living conditions for the residents close to it, noting that this new chapter for the company in Algeria will inevitably represent great international credibility for it.
Algerian President Abdelmadjid Tebboune and former Italian Prime Minister Mario Draghi agreed during the latter’s visit to Algeria in April 2022 that Italy would contribute to increasing direct investment in Algeria in several sectors, including increasing wheat production and food industries.
On the sidelines of Francesco Lollobrigida’s visit to Algeria, on Monday, the Minister of Agriculture and Rural Development Abdelhafid Hani affirmed that the Algerian party wants the two countries to move as soon as possible to an implementation phase of the action plan established by the two parties, noting that he discussed with the Italian officials the ways to develop bilateral programs relating to the agricultural sector, food and manufacturing industries.
For his part, Francesco Lollobrigida considered that the two countries have great opportunities for cooperation in the agricultural field and manufacturing industries, and expressed Rome’s readiness to work together to put its knowledge, tools and technologies at the service of Algeria to achieve common growth for both countries, stressing that the Italian and Algerian partners will activate what was discussed in the coming months and concretise their work plan on the ground.