On Monday in Algiers, three framework agreements were signed between public groups to solidify a strategic partnership and launch new investment projects by optimizing the capabilities of each group, according to a press release from the Ministry of Industry and Pharmaceutical Production.
These agreements were signed between the MADAR Holding for Asset and Resource Management and Development, the Algerian Holding of Chemical Specialties (ACS), the National Steel Company (SNS), and the Mechanical Industries Holding (AGM), by the CEOs of these companies, in the presence of the Minister of Industry and Pharmaceutical Production, Sifi Ghrieb.
These agreements outline the general framework for cooperation among the signatories, aiming to enhance and inject new dynamism into the relationships between these industrial groups. This is intended to achieve better coordination and cohesion, develop current activities, and launch new investment projects through the optimization of each group’s capabilities and opportunities, as noted in the press release, which was echoed by the Algerian Press Service (APS).
In addition to direct funding by MADAR for new investment projects by the ACS, SNS, and AGM groups, these agreements allow for direct partnerships with these entities through the acquisition of shares or the creation of joint ventures for project implementation.
These agreements align with the directives given by Mr. Ghrieb during evaluation meetings with various industrial groups, where he emphasized the importance of cooperation and synergy both among these groups and between the industrial sector and other sectors, according to the same source.
The minister expressed his satisfaction with the signing of these agreements, which he described as “favorable for launching and relaunching tangible projects in the fields of chemical, mechanical, and steel industries,” stressing the need to expedite their realization and commissioning, the press release added.
Furthermore, Mr. Ghrieb stressed the urgent need to quickly harness the “significant potential” of these industrial groups, advocating for the initiation of strategic partnerships among various industrial groups for greater economic efficiency.
