ALGIERS- Eight agreements were signed Tuesday, in Algiers, between Algerian and Chinese companies for the execution of industrial and agricultural investment.
The agreements were concluded during the Algerian-Chinese Business Forum on Investment, held at the Abdellatif-Rahal International Conference Centre, in Algiers, under the high patronage of the president of the Republic, Abdelmadjid Tebboune, by the Algerian Agency for Investment Promotion (AAPI), under the supervision of the minister of Industry, Sifi Ghrieb, and the ambassador of China, Dong Guangli.
The first agreement, signed between the National Company of Railway Transport (SNTF) and the Chinese company GENERTEC CNTIC, a subsidiary of the group CRRC, is about the establishment of a complex in Algeria specialized in the design, engineering and manufacturing of railway transport equipment and the relevant spare parts.
Another agreement was signed between the Algerian foundry company FONDAL, a subsidiary of the National Steel Company (SNS), and the Chinese car manufacturing company Jetour.
The agreement provides for a five-year investment of over USD105 million, for the establishment of a plant in the province of Batna, producing 270,000 vehicles and creating 1000 jobs.
A partnership agreement was signed between the group Iris and the Chinese company Chery, on a project stretching over an area of 230,000 m², relating to painting and welding of car bodies.
The project is expected to create 1200 direct jobs.
A partnership agreement was signed with Global Agri-Food, a subsidiary of Madar Holding group, on an agricultural project in the country’s south, for the development of strategic crops in Algeria.
An agreement was concluded with Madar Maritime Company (MMC), a subsidiary of Madar Holding, for the creation of a company manufacturing containers for the transport of raw materials and finished products by land and sea.
Madar group and the Chinese company CCECC signed another agreement on the creation of a firm specialized in industrial engineering, aimed at providing technological support to the subsidiaries of the group and carrying out studies for Algerian public and private industrialists.
The partnership agreement signed between the agri-logistics complex “Agrolog” and the Chinese company CRCC is about a poultry farming project.
In addition, the Algerian Condor group signed an agreement with the company Hisense for the establishment of a plant producing air conditioners and washing machines in Algeria.
The Algerian cycle and motorbike company CYCMA and the Chinese firm QJ Motor will sign an agreement on May 5th, on the development of the company’s production through a transfer of technology, according to an announcement made at the agreements’ signing ceremony.
