ANDI: Algerian-German investments worth DZD 24 billion over last 5 years

APS : Tuesday, 21 February 2017
ALGIERS-Twelve (12) industrial projects worth more than DZD 24 billion (nearly USD 220 million) have been implemented in Algeria with German partners over the last 5 years, Director General of the National Agency for Investment Development (ANDI) Abdelkrim Mansouri said Tuesday in Algiers.
Speaking at the Algerian-German Forum held on the sidelines of the 2th joint committee between the two countries, Mansouri said ANDI supported 16 Algerian-German investment projects over the last 5 years including 12 ones which had already been implemented.
The supported projects particularly relate to the manufacturing of gear boxes, handling equipment, construction materials (plaster and by-products) and compressed gas.
Some successful German projects in Algeria were presented at the Algerian-German forum, co-chaired by the Minister of Industry and Mines Abdessalem Bouchouareb, German Deputy Minister for Economy and Energy Uwe Karl Beckmeyer.
The German official referred to the partnership project between Sovac and Volkswagen, estimated at €170 million and considered as the German car manufacturer’s most importance project in Africa.
In addition to the creation of jobs and technology transfer, this project is expected “to contribute to a new economic momentum in auto industry and subcontracting,” Director General of Sovac Mourad Oulmi.
In the presentation of Henkel Algeria group operating in the area of detergents and cleaning products, the group’s CEO Jean Feminier said the company intended to invest €30 million in 2017 to increase the production capacity of its plants in Reghaia and Chelghoum El Aid.
The German official said the partnership process between Algeria and Germany “was on the right path” and highlighted the need for further efforts in industrial investments.
“Algeria is a strategic door towards Africa. It provides huge investment opportunities in several fields,” he stated, stressing many German subcontracting companies are interested in investing in Algeria.
Besides, Beckmeyer, who took part in the World Energy Forum held in last September in Algiers, hailed Algeria’s efforts to rebalance the world oil market.

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