Algeria's National Agency for Investment Promotion has awarded 21 concession contracts for economic real estate to implement various investment projects worth approximately $33 billion. The projects are expected to create over 3,600 direct jobs upon completion. The contracts were awarded during a visit by the agency's Director-General, Omar Rekache, to several investment projects in the industrial zone of Boumerdes.
The visit aimed to monitor the progress of projects and identify potential obstacles that may affect their completion. Rekache emphasized that the focus is not only on attracting investment but also on accelerating its implementation and achieving its economic impact. The agency's goal is to transition from monitoring files at the document and procedure level to actual on-site monitoring of projects.
One of the projects visited was that of "BPG Sia", a company specializing in the production of aluminum packaging for non-alcoholic beverages. The project, valued at $6 billion, is expected to cover around 40% of the country's needs for aluminum packaging and create around 250 direct jobs. The project is scheduled to be completed by the end of 2027.
Another project visited was a baby milk production facility, with a production capacity of 5,000 tons per year. The project is expected to support the country's supply of this essential product and create over 100 direct jobs. Rekache highlighted that the projects reflect a growing diversity in the country's productive fabric, including food and manufacturing industries.
During the visit, Rekache also awarded six concession contracts for economic real estate in the Boumerdes industrial zone. The contracts were awarded to companies in various sectors, including the production of compressed and liquefied gas, sensitive equipment for vision, pharmaceutical products, and beauty and personal care products.
The awarded contracts include a project by "Ouras Gaz" to produce compressed and liquefied gas, valued at over $3.33 billion, expected to create 380 direct jobs. Another project by "A.M.S" will produce sensitive equipment for vision, valued at $1.12 billion, expected to create 500 direct jobs.
Rekache emphasized that the on-site visit is not just about monitoring progress but also about evaluating the actual reality of projects and identifying potential obstacles. The agency aims to work with various sectors and local authorities to address these challenges and ensure the timely completion of projects.
Key points
- Algeria awards 21 investment contracts worth $33 billion to create over 3,600 jobs.
- The projects aim to support the country's economic growth and reduce reliance on imports.
- The contracts were awarded in various sectors, including food, manufacturing, and pharmaceuticals.
