APS : Tuesday, 24 May 2016
MILAN- Two cooperation agreements have been signed Tuesday in Milan between Algeria and Italy in the fields of agriculture and restoration of old buildings, on the sidelines of the meeting on investment opportunities and partnership between the two countries.
The first agreement, worth EUR 50 million, was inked by the private farming company Fatma N’kasraoui and Italy’s Indo-European Sustainable Development (IESD).
It provides for cooperation in the cultivation of cereals (wheat and maize) in the province of Naama (south of Algiers), and will be extended later to other fields, like greenhouse cultivation, fruits and vegetables, and stockbreeding, the manager of the Algerian signatory farming company, Salah Gaci told the press.
For his part, the executive director of IESD, John Martin Thomas, said that through this agreement, his company committed to “transferring Italian technology in cereal cultivation and stockbreeding,” adding “we intend to contribute to the efforts for the development of agriculture and the diversification of exports in Algeria.”
The second agreement is about the terms and conditions for the implementation of the memorandum of understanding, signed in Algiers in April, for the creation of a joint venture based on 49/51% rule between the Housing Management Department of the province of Algiers and Italy’s Metropolitana Milanese, which operates in the restoration of buildings.
The future joint venture, which will be operational by the end of 2016, will be in charge of the restoration of old buildings in Algiers, according to the explanations of Secretary General of Algiers province Djamel-Eddine Berimi.
The province of Algiers and the city of Milan are bound by a twinning agreement, signed in April during the visit of Milan Mayor Giuliano Pisapia.