“Gisb Electric” signs commercial and investment contracts of $ 480 million with “SOGELUX” – Algerian dialogue

The Algerian complex, “Gisb Electric”, which specializes in the manufacture of electrical equipment, has signed commercial and investment contracts with the “SOGELux” complex, activist in the distribution of electrical equipment in both Senegal and Cote d’Ivoire, with a total value of $ 480 million.

Signature ceremony

The signing ceremony took place in the presence of the Director General of the Algerian Agency for the Promotion of Investment, Omar RakashAnd the Director of Trade, Investment and Financial Cooperation of the African Bank for Export and Import, Ayman Al -ZoghbiIn addition to the representative of the Algerian Economic Economic Council, Ali Omlal.

Contract details

Under these agreements, the “Gisb Electric” complex will ensure The export of more than 300 million dollars From the electrical equipment towards the markets of Senegal and Cote d’Ivoire, and from there to the rest of the markets CEDEAO Economic Group (CEDEAO)And for three years.

Industrial investments in Africa

Contracts also include embodiment Industrial investments worth $ 180 million In both Senegal and Cote d’Ivoire, aimed at creating projects in the field of electrical industries, in order to enhance the Algerian presence in the African market and contribute to creating a local added value.

A step to enhance African partnership

These contracts come to embody the new trend of Algerian institutions towards Expansion in African marketsIn line with the goals of the African continental free trade area, and to enhance southern-south-south.