APS : Wednesday, 28 March 2018
ALGIERS- A shareholders’ agreement has been signed Wednesday in Algiers between ALPHYT (a subsidiary of the public industrial group of fertilizers and plant protection products ASMIDAL)
and the Emirati company Anglo-Impex Limited for the creation of a joint venture specializing in the production and marketing of herbicides.
The document was inked by the CEO of ALPHYT, Linda Chefaa, and the General Manager of Anglo-Impex Ltd, Muawia Merghani Ibrahim.
The joint venture, named “Hidhab-Agro-Chimicals,” will be based in the cereal-growing province of Setif (300-km east of Algiers).
The project, worth US$6 million, is part of Algeria’s import substitution strategy, especially as imported herbicides cost the country US$ 60 million annually.
Once achieved, Hidhab-Agro-Chimicals would become the first producer of herbicides in North Africa.
The factory, which is expected to start production in 2019, will create 42 direct jobs.