abdou
07-19-2007, 03:33 PM
UAE to promote multi-billion investment projects in Algeria.
on Thursday, July 19 @ 04:15:25 CDT
The United Arab Emirates will invest over 33 billion dollars in Algeria in the next 5 years in several sectors of activity.
A case in point is the Emirati real estate group “EMAAR” which has already secured the green light from the Algerian authorities to invest 28 billion dollars in the country.
In July 2006, the “EMAAR” chairman, Mohamed Ben Ali Al Abbar, presented the Algerian authorities with the scale models of several urban restructuring projects for Algiers, whose central part has practically witnessed no alteration since the country’s independence in 1962.
Furthermore, 2 major Emirati enterprises namely “Mubadala Development Company” and Dubai Aluminium (DUBAL) are intent on investing a financial package estimated at 5 billion dollars for the creation of an aluminium production plant in Algeria.
The Algerian-Emirati ties of cooperation were further consolidated and upgraded on the occasion of the state visit paid earlier this week to Algeria by his Highness, the the UAE president at the invitation of President Abdellaziz Bouteflika.
http://www.echoroukonline.com/english/modules.php?name=News&file=article&sid=6909
ALgeria has achieved great success in attracting foriegn investment into the contry, hopefully this will provide the needed jobs for the people and bring in extra revenue into the country by tourism :)
on Thursday, July 19 @ 04:15:25 CDT
The United Arab Emirates will invest over 33 billion dollars in Algeria in the next 5 years in several sectors of activity.
A case in point is the Emirati real estate group “EMAAR” which has already secured the green light from the Algerian authorities to invest 28 billion dollars in the country.
In July 2006, the “EMAAR” chairman, Mohamed Ben Ali Al Abbar, presented the Algerian authorities with the scale models of several urban restructuring projects for Algiers, whose central part has practically witnessed no alteration since the country’s independence in 1962.
Furthermore, 2 major Emirati enterprises namely “Mubadala Development Company” and Dubai Aluminium (DUBAL) are intent on investing a financial package estimated at 5 billion dollars for the creation of an aluminium production plant in Algeria.
The Algerian-Emirati ties of cooperation were further consolidated and upgraded on the occasion of the state visit paid earlier this week to Algeria by his Highness, the the UAE president at the invitation of President Abdellaziz Bouteflika.
http://www.echoroukonline.com/english/modules.php?name=News&file=article&sid=6909
ALgeria has achieved great success in attracting foriegn investment into the contry, hopefully this will provide the needed jobs for the people and bring in extra revenue into the country by tourism :)