Algeria, Saudi Arabia Explore Strategic Energy and Investment Partnerships
ALGIERS — The Algerian Minister of State, Minister of Energy, Mines and Renewable Energy, Mohamed Arkab, received Tuesday the ambassador of the Kingdom of Saudi Arabia to Algeria, Abdullah Bin Nasser Al Bussairy, with whom he examined the opportunities of cooperation and investment between Algerian and Saudi companies in various domains of the sector, according to a ministry statement.
The meeting was held at the ministry headquarters in the presence of the Secretary of State to the Minister of Energy, in charge of Renewable Energy, Noureddine Yassaa, as well as ministry officials.
It allowed to reaffirm the depth and the strength of the longstanding relations between Algeria and the Kingdom of Saudi Arabia and the joint political will to develop bilateral cooperation into a strategic partnership in energy, mining, renewable energy and seawater desalination, the ministry said.
The two parties examined cooperation and investment prospects in various domains of the sector, including hydrocarbon exploration and development, petrochemical industry, electricity production and processing, mineral resource exploitation and processing, renewable energy, and green hydrogen.
The minister assured that the energy, mining, and renewable energy sector was ready to support Saudi partners and promote cooperation in value-added investment projects.
The Saudi ambassador reaffirmed his country’s interest in strengthening investment partnerships in the Algerian market, citing the encouraging new legal and regulatory framework as well as Algeria’s potential and strategic geographical position.
