Algeria invites investment in infrastructure and health
Updated: Jun 27, 2013 05:24:08pm
New Delhi, Jun 27 (KNN) India’s increased engagement with African countries is paying results as a high level delegation from Algeria called on Indian industries to explore new business and investment opportunities especially in infrastructure, health, mining and energy.
Algerian Director General of Mines, Ministry of Energy and Mines, Bouarroudj Mohamed Tahar led delegation sought India’s co-operation in conducting feasibility study on developing fertilizer industry in that country, according to an official notification.
Algeria has nearly 800 billion tons of phosphate reserves which remains unexploited. The Algerian government is planning to increase the capacity of processing the phosphate by five million tones which can be directly applied to the soil or can be used for production of phosphate gas.
While appreciating the increasing bilateral trade between India and Algeria, CII Gulf Committee, chairman, KKM Kutty said, “Bilateral trade between India and Algeria is showing a positive trend; it grew from USD 55 million in 2001 to USD 3.4 billion in 2011 before coming down to USD 2.17 billion during 2012. However, India’s exports maintained an upward trend increasing from USD 1.084 billion to USD 1.102 billion.”
During the interaction Indian companies shared their proposed plans for setting up a steel plant, power unit, management maintenance and modernization of power units as well as hydro projects in Algeria. They also sought more information about changes in regulations for power transmission where Indian companies can partner with local companies.
The meeting was attended by Indian companies representing sectors ranging from Infrastructure, Pharma, Oil and Gas, Telecommunication, IT, Power, Banking, Chemicals, Agriculture, Engineering, Electronics and Healthcare. (KNN)
Algerian Director General of Mines, Ministry of Energy and Mines, Bouarroudj Mohamed Tahar led delegation sought India’s co-operation in conducting feasibility study on developing fertilizer industry in that country, according to an official notification.
Algeria has nearly 800 billion tons of phosphate reserves which remains unexploited. The Algerian government is planning to increase the capacity of processing the phosphate by five million tones which can be directly applied to the soil or can be used for production of phosphate gas.
While appreciating the increasing bilateral trade between India and Algeria, CII Gulf Committee, chairman, KKM Kutty said, “Bilateral trade between India and Algeria is showing a positive trend; it grew from USD 55 million in 2001 to USD 3.4 billion in 2011 before coming down to USD 2.17 billion during 2012. However, India’s exports maintained an upward trend increasing from USD 1.084 billion to USD 1.102 billion.”
During the interaction Indian companies shared their proposed plans for setting up a steel plant, power unit, management maintenance and modernization of power units as well as hydro projects in Algeria. They also sought more information about changes in regulations for power transmission where Indian companies can partner with local companies.
The meeting was attended by Indian companies representing sectors ranging from Infrastructure, Pharma, Oil and Gas, Telecommunication, IT, Power, Banking, Chemicals, Agriculture, Engineering, Electronics and Healthcare. (KNN)
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