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ALGERIA: The country is preparing to relaunch a mega-project in the East of the country

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Algeria is preparing to relaunch its two mega-projects of exploitation and transformation of phosphate in the east of the country and that of iron mine in Gara Djebilet (Tindouf). The Minister of Industry and Mines, Ferhat Ait Ali, said yesterday Thursday that the government has approved the launch of these two major projects. By Drafting Algeria 360

The studies are being finalized to prepare for its launch in the shortest possible time,” said Mr. Ait Ali, noting that the cost of investing in both projects is estimated to be between $15 billion and $16 billion.

The phosphate complex covers five wilayas in the eastern part of the country (Tébessa, Souk Ahras, El Tarf, Skikda and Annaba). According to the memorandum of understanding signed in November 2018 in Tebessa, the company Asmidal (subsidiary of the Sonatrach group) holds 34% of this complex against 17% for the Manadjim El Djazair group (Manal), a total of 51% for the Algerian part, while the remaining 49% is held by the Chinese side (the Citic group, the Road and Silk Fund, the Sino-African Development Fund and a technologist to be integrated).

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“For the moment, everything is under consideration. So long as we have not signed anything, we have nothing to say. Nothing is certain, on both sides. For now, we are moving forward on several fronts and on the day of signing we will reveal everything to you,” said the Minister of Industry.

Editorial of Algerie360