Ghar Djebilet iron deposit, Amizour zinc mine, Bir El Ater phosphate mine in Tébessa…
The country is asserting itself as a popular destination, even sought after by companies aspiring to settle there to be associated with world-class projects.
Ghar Djebilet: reserves estimated at 3.5 billion tonsGhar Djebilet: reserves estimated at 3.5 billion tons
Algeria is gold in the bar. Since the public authorities took the bull by the horns to provide it with an economic model that creates wealth alongside its powerful oil and gas sector, the “armed wing” of its economy endowed with potential that has given it international stature , foreign investment has become a priority. Without fanfare, the country is asserting itself as a destination appreciated or even sought after by businessmen and companies aspiring to settle across the national territory to join in world-class projects for a good number of ‘between them.
Striking force
Algeria conceals resources, unheard-of riches which, moreover, offer leading investment opportunities. What the President of the Republic highlighted from the second year of his mandate. Unheard of since independence. Under his era, many major strategic projects were launched. The almost total dependence of the national economy on oil revenues “is fatal for intelligence and the spirit of initiative”, declared the President of the Republic. A shock wave! The train of economic renaissance will be launched.
The new Head of State will initiate the Economic Recovery Plan in August 2020 and a National Start-up Conference in early October of the same year. Two events that will herald the end of the reign of oil revenue. It will be marked by the opening of the mining track, that of the iron deposit of Ghar Djebilet, in particular which must establish the new economic model towards which the country is tending. A national conference on industrial recovery will also be organized from December 4 to 6, 2021, before the President of the Republic decrees 2022 “economic year”. So many stages that will precede the remarkable tour of the President of the Republic which will take him from Russia to Turkey via Qatar and China. At each of its stops, it will highlight the exceptional investment opportunities offered by the country. Algeria, from now on, presents proven exceptional opportunities in terms of investments. A “standard deployed” since the five-day state visit made by the country’s first magistrate to Russia.
“Algeria is today experiencing an unprecedented economic renaissance engaged at a higher speed in order to make up for lost time and investment opportunities with our friends, with Africa and the Mediterranean region”, declared Abdelmadjid Tebboune on June 14 during the opening of the work of the Algerian-Russian Economic Forum, stressing the existence of “1,450 industrial projects in progress”. Certain projects, and not the least important, constitute undisputed “strike forces” of the economic model that the country hopes to afford.
These include, among others, the construction of the port of El Hamdania in Cherchell, the iron deposits of Ghar Djebilet, the zinc mine of Amizour in Béjaïa, the phosphate mine of Bir El Ater in Tébessa,
the opening of the mining track in general.
The Ghar Djebilet iron deposit is one of the locomotives of the Economic Recovery Plan, the outlines of which were sketched out in August 2020. A choice that imposed itself in view of its reserves estimated at 3.5 billion tonnes , but also because it gives a new direction to the national economy. With regard to the exploitation of this mining giant, a partnership agreement was signed on June 24 at the headquarters of the wilaya of Tindouf, between the National Iron and Steel Company (Feraal) and the Chinese consortium CMH.
Ghar Djebilet and El Hamdania
Its objective is to create two joint Algerian-Chinese companies. The first for the operation of the Ghar Djebilet mine in Tindouf, and the second for the construction of a complex for the transformation of iron ore from the Ghar Djebilet mine into semi-finished materials (slabs), in the wilaya of Bechar. This agreement aims to extract 2 million tonnes of iron ore per year from the Ghar Djebilet-Ouest mine by 2026, before reaching an annual extraction capacity of 50 million tonnes of iron ore by 2040. The construction of the port of El Hamdania is one of the flagship projects, which has caused enormous financial damage to the country. The President of the Republic has decided to put it back on track on a sound basis.
According to its original technical data sheet, the El Hamdania port-center project was one of the most important maritime infrastructures in the Mediterranean region and on the African continent. Under a memorandum of understanding concluded on January 17, 2016, this megaport was to be built by a company under Algerian law made up of the Public Group of Port Services and two Chinese companies: Cscec (China state construction corporation) and Chec (China harbor engineering company). Its cost was estimated at 3.6 billion dollars and its financing was to be carried out within the framework of a long-term Chinese credit. As for the integrated phosphate project which will enable Algeria to be one of the main world exporters of fertilizers and fertilisers, four partners have joined forces to get it off the ground: the Algerian groups Asmidal (subsidiary of Sonatrach) and Manadjim El Djazaïr (Manal) on the one hand, and the Chinese companies “Wuhuan” and “Tian’an” on the other. This state-of-the-art infrastructure should enable the production of 5.4 million tonnes of fertilizer per year and generate some 6,000 direct jobs and 24,000 indirect jobs.
A financial envelope that can reach up to 7 billion dollars will be devoted to it. The cost of its related infrastructure must be between 5 and 6 billion dollars. Next to the zinc and lead deposit of Amizour (Béjaïa). A structuring project which should establish it as an industrial pole and allow the country to place itself among the main world producers of these resources.
Translated from https://www.lexpression.dz/economie/algerie-terre-d-investissements-372011
