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“The Algerian market offered promising investment opportunities”
Sectors of hydrocarbons, clean energies and mines
The Secretary of State to the Minister of Energy, Mines and Renewable Energies, responsible for renewable energy, Noureddine Yassaâ put forward, the day before yesterday, in Algiers, the deep reforms made to improve the investment climate in Algeria and the guarantees offered to investors, stressing the major interest granted by Algeria to the development of major strategic projects in the fields of Exploration, production and industrial transformation, in phase with the priorities of the energy transition and the diversification of sources of the national economy. But also its desire to encourage fruitful partnerships with leading international companies.
“The Algerian market offered promising investment opportunities in the hydrocarbon, clean energy and mines sectors,” he said.
It was, said a press release from the ministry, during the presentation by a delegation from the Chinese group, Kibing Group, at the headquarters of the Ministry of Energy, Mines and Renewable Energies, an investment project for the production of solar glass which provides for the realization of a solar glass production plant, with a capacity of 1.53 million tonnes per year, and a processing unit Ultrapure, with a capacity of 1.08 million tonnes per year.
“The project in question aims to carry out a local integration rate of 90 % and the creation of more than 3,000 direct jobs,” continued the same source.
During the presentation, the Chinese delegation, led by the deputy director general of the group, Eric Wong Kuan and received by the Secretary of State to the Minister of Energy, in charge of renewable energy, Noureddine Yassa, and the Secretary of State to the Minister of Energy, in charge of Mines, Karima Tafer, in the presence of executives of the ministry, indicated that the project will Direct jobs, with a local integration rate reaching 90%.
This meeting, specified the same source, was an opportunity to review the potential offered by this project in the valuation of local natural resources, in particular the sand of silica, and the construction of a production chain integrated in the solar energy sector, capable of strengthening the position of Algeria as a regional hub of renewable energies in the Middle East and North Africa region.
Finding that at the end of this meeting, it was decided to continue the consultations between the two parties to examine the ways and means to transform this common desire into concrete projects and partnerships, capable of supporting the development of the solar glass industry and strengthening the energy transition process in Algeria, the same source has made the case of specialized working meetings in the coming days, with the participation of representatives of the concerned sectoral establishments. And the possibility of implementing this project in compliance with national standards and requirements.
Kibing Group which produces different types of glass, including solar glass, insulating glass and medical glass is the second Chinese group which is attracted by investment opportunities on the Algerian market for renewable energies, after the Longi group, specializing in the manufacture of photovoltaic solar panels, which already presented its project last April to the Algerian promotion of investments.
Rabah Mokhtari