Algeria, Iran sign EUR220m cement plant deal

Algeria, Iran sign EUR220m cement plant deal
Published: 15 July 2008

Iran and Algeria signed an agreement to build a cement plant at a cost of EUR220m in the north African country, the head of the Algerian Chamber of Commerce and Industry (CACI) said on Monday.

CACI head Brahim Bendjaber added in remarks carried by Algerian official news agency APS that Iran would have a 51 per cent stake with Algeria owning the remaining 49 percent in the plant, which would have a capacity of 1Mta.

Bendjaber, who was speaking at a meeting between Iranian and Algerian businessmen, did not name the firms which are due to carry out the project.

Algiers is hosting a meeting of an Iranian-Algerian joint commission to boost trade.

Bendjaber said the two countries reached another accord to expand bilateral cooperation in the railway sector.