Algeria, Saudi Arabia initiate five industrial projects

Algeria and Saudi Arabia initiated five partnership projects in several sectors that will be put into operation in 2019, on Monday

The announcement came on the sidelines of the Saudi-Algerian Business Council which coincided with the visit of Saudi Crown Prince Mohammed bin Salman to Algeria.

Bin Salman arrived on Sunday in Algeria on a two-day visit, where he was received by Prime Minister Ahmed Ouyahia and some cabinet members.

During the visit, bin Salman will discuss cooperation between the two countries as well as developments in the oil market and Arab issues.

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The first two partnership projects which will be implemented in Algeria by Saudi companies include the manufacturing of inorganic chemicals as well as chlorine for water purification by Saudi Adwan Chemicals Industries company.

Saudi pharmaceuticals will implement the third project while the fourth project will be implemented by Saudi Paper Mill company with a production capacity of 30,000 tons valued at $20 million. The fifth project will be in the field of food products implemented Aujan Saudi Arabia company.

Saudi Arabia invests mainly in the industrial sector in Algeria with a total of 12 projects worth 14 billion dinars ($130 million), including chemicals, food, iron and steel industries.

The Algerian and Saudi sides have also agreed to hold an exhibition of Algerian products in Saudi Arabia during the first half of 2019.