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Hisham Qandil confirms Egyptian industrial zone in Algeria.

The Egyptian prime minister, Hisham Qandil, has confirmed that his country is to establish an industrial zone in Algeria.

Mr Qandil made the announcement on Wednesday of this week and said that the zone would be used to produce construction materials for Algeria and said Egyptian companies would also benefit.

He told the press about the decision as part of a two-day visit, which had aims from the outset to increase the flow of Egyptian investments within Algeria.

The Egyptian prime minister, Hisham Qandil, has confirmed that his country is to establish an industrial zone in Algeria

Mr Qandil went further and said the "ambitious" plans would see some 2.5 million residential units built before the end of 2014, adding that construction firms in Egypt would be given a major boost.

"The Egyptian government encourages businessmen to put their money into projects in Algeria," Mr Qandil said.

He added: "It has also been agreed that Egypt imports gas from Algeria, but the exact amount is yet to be determined."

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Publication:7 Days (Dubai, United Arab Emirates)
Geographic Code:6ALGE
Date:Oct 27, 2012
Words:183
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