Italian official Calls For Government Leverage To Ease Transfer Of Rebrab’s Funds

An Italian official has urged his Government to apply leverage on its Algerian counterpart to facilitate money transfers for the benefit of Algerian business leader Issad Rebrab to allow him to implement his major investment in a steel and iron complex previously located in Lucene in “Piombino”, and in “-Ofarba AFERPI-” currently, stressing that the owner of the Algerian Cevital agro-food complex, has up to now, injected 130 million Euros into the Italian industrial compound.

In a press statement, Mr. Enrico Rossi, head of the Italian region of Tuscany, said that the investment engaged by Mr. Rebrab in the Piombino iron and steel complex needed a point of contact between the Italian government and its Algerian counterpart with a view to overcoming the difficulties of transferring necessary funds from Algeria to Italy.

Mr. Enrico Rossi also said that the Algerian businessman has so far pumped 130 million Euros into the AFERPI industrial complex, that is more than 1,400 billion centimes (DA) at least.

Mr. Enrico Rossi, who was speaking in an interview with local media in Florence, Italy, after a hearing at the Regional Council  devoted to Rebrab’s pending investment file, pointed out that considerable investment like this one between the two shores of the Mediterranean requires a direct continuity at the highest Italian and Algerian state level, to scrap the obstacle of converting funds from Algeria to Italy.

He said: “This outstanding file was conveyed to the Italian Government and I spoke with Prime Minister Gentiloni personally in this regard”.

He also indicated that Issad Rebrab had faced myriad hurdles in transferring money from Algeria to Italy because of the drastic legislation in force in his country, but Enrico Rossi added that “Issad Rebrab had so far injected 130 million Euros into the Piombino iron and steel project” .

“It’s hard to say that someone who pumps a great deal of money like this, has no desire in doing anything”, he further underlined.