Algeria: 5 usd billions to inject in industrial sector

Algeria (Algiers) – The Algerian government will implement a $ 5 billion program to boost the industry sector, a senior official told local press. Minister of Industry Mohammad bin Muradi said the multi-billion-dollar investments would boost public industrial sector. He said in a statement the government would establish big corporations like the Algerian Cement Group with USD 1.5 billion to increase cement production by 7.5 billion tons to enable Algeria export cement by the year 2020. The government, said bin Muradi, would inject USD 200 million in the Algerian Pharmaceutical Group to build six new pharmaceutical plants, coupled with pumping USD 560 million in the mechanical industry. He said the Algerian government would modernize agricultural tractors and manufacture all-terrain vehicles. Other investment projects will include sectors of electricity, steel, home appliances, chemical and metal. Source: Global Arab Network