APS : Monday, 03 December 2018
ALGIERS- Five partnership projects concluded by Algeria and Saudi Arabia in several fields have been inaugurated Monday. The projects will be put into operation in early 2019.
Those projects have been inaugurated during the 12th Algerian-Saudi Business Council, co-chaired by Minister of Industry and Mines Youcef Yousfi and Saudi Minister of Commerce and Investment, Majid bin Abdullah Al Qasabi. Saudi Crown Prince Mohammed Bin Salman is on a two day visit to Algeria.
In this regard, partnerships have been forged by Algerian and Saudi operators to achieve 5 projects in several provinces of the country.
Those projects cover the fields of mineral chemistry, mineral processing and the industry of chlorine-containing chemicals, sodium hydroxide and caustic soda and soda destined to water purification by Saudi company “ADWAN CHEMICALS.”
The partnerships also include pharmaceutical industry project entrusted to Saudi company “Tabuk Pharmaceuticals” with a production capacity of 10 million units.
Another project on the manufacturing of toilet tissue by Saudi company “Paper mill” has been inaugurated. The $20 million project will have a production capacity of 30,000 tonnes.
The two countries also inaugurated a food processing project for juice production in the province of Blida by “Aujan Group Holding (AGH).”
Minister of Industry and Mines Youcef Yousfi expressed Algeria’s willingness to promote partnership and investments between the two countries to heighten them to the aspirations of President of the Republic Abdelaziz Bouteflika and Saudi Crown Prince Mohammed Bin Salman.
Yousfi also expressed satisfaction with the two countries’ determination to boost cooperation in the field of industry and other sectors.
Industry took lion’s share in the partnership projects between the countries, equaling 12 projects worth 14 billion dinars. Those projects concern chemical products, building, food industry and steel industry.