Algeria and Italy sign a €420 million investment agreement
Algeria and Italy have signed an agreement worth €420 million for an Italian investment project in the southern part of the largest country in Africa. The main focus of the project is on wheat and vegetable production, as well as strengthening food security, as announced by the two countries in a joint press release.
Investment Project Details
The project will be carried out by the Italian group Bonifiche Ferraresi and the National Investment Fund of Algeria, targeting cereal and vegetable production on a 36,000 hectare area in the Timimoun province. The goal is to produce wheat, lentils, beans, and chickpeas, as well as to build processing units for pasta production and storage facilities. The investment is set to begin in 2024 and will help…
Boosting Food Exports and Job Creation
A recent press release highlights the significant increase in food product exports and the creation of over 6,700 new jobs. This positive development is a result of strategic initiatives aimed at boosting the country’s economy.
Romania’s Gas Export to Ukraine
Romania has made history by exporting gas to Ukraine for the first time in 8 months, addressing Ukraine’s winter fuel deficit. This surplus in the domestic market showcases Romania’s commitment to regional energy security.
Algeria’s Wheat Autonomy Project
Algeria is embarking on a project to achieve wheat self-sufficiency by expanding cultivated areas for durum wheat to 500,000 hectares in the southern region. This initiative aims to enhance food security and reduce dependency on wheat imports.
