Ali Aoun announces a subsidy worth 3.5 billion dinars to revive the activity of “ANIAM” – Algerian Dialogue

The Minister of Industry and Pharmaceutical Production, Ali Aoun, announced today, Monday, in Tizi Ouzou, the allocation of a financial envelope worth 3.5 billion dinars to the National Corporation for Home Electrical Industries (ANIEAM).

The minister explained, after listening to a presentation on the institution’s recovery plan presented by the latter’s officials, that “the state decided to allocate a subsidy worth 3.5 billion dinars in order to revive the activity of this institution, which has been facing serious difficulties for several years.”

The Minister recalled the “tremendous efforts made by the state” to preserve this pioneering edifice in the national industry, calling on the officials of the “Anyam” Corporation to exploit this financial envelope in order to “produce value” and “ensure the continuity of activity” in this industrial complex.

The minister also prohibited the institution from carrying out any sponsorship activity for the benefit of sports clubs and other activities, stressing that “every dinar must be used for the benefit of the institution.”

For reference, this company specialized in the home electrical industries has been suffering for several years from difficulties and a decline in its production capacity, while its accumulated debts with the Foreign Bank of Algeria have approached 5 billion dinars, and it has been subject to a rescheduling plan since the year 2021.

During his last visit to the state in August 2023, Mr. Aoun indicated the possibility of opening the institution’s capital to a national or foreign partnership in order to ensure the continuity of its activity.