APS : Saturday, 25 March 2017
ALGIERS- Shipping lines Cnan-Nord and Cnan-Med, subsidiaries of the public maritime transport group GATMA, is to create joint ventures with foreign companies,
a Public Works and Transport ministry’s official told APS.
Discussions are underway with major maritime companies to establish joint ventures under the Algerian law, said Mohamed Benboushaki, the head of the ministry’s Merchant Navy and Ports Department.
Foreign companies, according to him, are expected to bring their experience and skills to the joint ventures, which will run the new ships acquired or to be purchased by the two Algerian companies (Cnan-Nord and Cnan-Med), to improve the management of the national fleet.
The two companies have already acquired nine new ships as part of the development plan of the national merchant fleet.
The plan includes the acquisition of 25 ships: 18 cargo vessels by Cnan-Nord and seven by Cnan-Med.