A memorandum of understanding with $ 2.5 billion between the Algerian Agency for the Promotion of Investment and the Swedish Electric Company – Algerian dialogue

The Algerian Investment Promotion Agency (AAPI) signed, today, Monday, a memorandum of understanding with the Egyptian Elsewedy Electric company, to express investment intentions worth $ 2.5 billion.

A statement by the agency, that the signing ceremony took place in the presence of the Agency’s Director General, Omar RakashAnd on the Egyptian side, Mustafa Awad Al -HalawaniThe President General Manager of Al -Suwaidi Electric.

This memorandum aims to set an initial framework for investment projects that the Egyptian company intends to complete in Algeria, which includes Create a specialized industrial baseAnd transfer of experiences and technology, in addition to Electrical infrastructure development.

The agency emphasized that this initiative reflects the commitment of Al -Suwaidi Electric Company to long -term investment in the Algerian market, in harmony with the national policies aimed at Promoting local manufacturing, developing electrical industries, and reducing import bill.