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Italian Agriculture and Food Sovereignty Minister Francesco Lollobrigida during a press conference in Rome 28 March 2023. ANSA/FABIO FRUSTACI
The Italian Minister of Agriculture, Francesco Lollobrigida, is expected in Algiers on Saturday, July 6. A visit that aims to supervise the signing of the agreement on the largest Italian investment in sustainable agriculture in the southern Mediterranean, as reported yesterday by the Italian agency Nova.
The agreement will allow the implementation of a vast project in the wilaya of Timimoun, in the south of the country and intended for the production of cereals and food industries.
The Algerian-Italian partnership agreement for the implementation of a vast project in Timimoun called “Mathi Afrique Foundation” will extend from 2024 to 2028. It will consist of the production of cereals and food industries.
It also aims to strengthen bilateral relations between Algeria and Italy at all levels; as well as to advance more quickly the national economic path towards self-sufficiency.
Recently, Omar Rekache, Director General of the Algerian Investment Promotion Agency (API), announced an agricultural project between the Algerian Investment Fund and the Italian partner Bonifiche Ferraresi BF. Which aimed to cultivate cereals in the state of Timon; and this, on a total area exceeding 36,000 hectares with a value exceeding 420 million dollars.
The Italian holding company Bf Spa, already active in Africa, started with a small concession of 900 hectares with a private Algerian partner and is now preparing to close a vast project of 36,000 hectares.
The objective of the group led by Federico Vecchioni is to deliver “turnkey” to Algeria a complete agri-food chain, from the supply of seeds to industrial production derived from crops, including pasta, reveals the Nova agency.
The project involves the use of advanced agronomic techniques, such as crop rotation to optimize agricultural yield.
According to the same source, the agreement should be formalized during the visit of the Minister of Agriculture, Food Sovereignty and Forests scheduled for Saturday, July 6.
Algeria will benefit from the production of wheat and other foods for food security and industrial diversification, thus reducing the excessive dependence of its economy on hydrocarbons.
This project was among the main themes of the bilateral conversation between Prime Minister Giorgia Meloni and President of the Republic Abdelmadjid Tebboune, held on the sidelines of the last G7 summit.