APS : Wednesday, 06 January 2016
ALGIERS – Algerian public group Industrie locales (Divindus) and two Turkish companies signed, Wednesday in Algiers a partnership agreement on modernizing of the construction of Saharan cabins and chalets.
The Turkish party took 49% of shares in the six subsidiaries of Divindus.
The Agreement stipulates that the two Turkish firms, namely Vefa and Ozgun, will provide $70 billion investment destined to optimize and modernize production processes at the six subsidiaries of the Algerian public group, CEO of Divindus, Djamel Mana told APS on the sidelines of the signing ceremony.
The goal is to ensure technological transfer, training of personnel and the coverage of internal demand in Saharan cabins and chalets before exporting.
Thus, the capacities of the production of six subsidiaries of Divindus is expected to increase from 2,000 cabins per year to 36,000 cabins per year within three years, said General Secretary of Ministry of Industry and Mines Rabea Kherfi, during the ceremony which took place at the ministry’s headquarters.
The units concerned by the agreement are located in Sidi Moussa (two units), Baba Ali, Gué de Constantine, Aïn M’lila and Bejaia, said. Kherfi.
The main actions consist in the installationof new fiber cement production lines (for pavements and walls of the cabins), armored cabins and household furniture and for communities as well as the installation of aluminum joinery processing workshops.
The first batches of Saharan cabins and chalets for housing will be manufactured as from 2017.
In the future, the materials for the construction of those cabins will be locally produced, according to the explanations of CEO of Divindus which counts 89 subsidiaries.
The chargé d’affaire of Turkish embassy to Algeria Erdem Barboros welcomed the conclusion of this partnership which confirms the willingness of the two countries to develop their economic relations by the reinforcement of direct investments in accordance with 49/51% rule.