Friday 29 August 2014
 
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Algeria

Algeria eyes $262bn investment; boost for infrastructure

Algeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said. The Opec member north African country has been spendi

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Algeria eyes $262bn investment; boost for infrastructure

Algeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said. The Opec member north African country has been spendi

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Arab Contractors in $180m Algerian industrial zone deal

The Arab Contractors, a leading construction firm in Egypt, is implementing three major industrial zones worth $180 million in Algeria, said a report. The cost includes utilities alongside other infrastructure works for the three

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Algeria's Sonatrach replaces CEO

Algeria's state energy company Sonatrach has replaced its chief Abdelhamid Zerguine with vice president for production Said Sahnoun, a senior Sonatrach source told Reuters on Saturday. The source, who asked not to be identifie

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Sonatrach to spend $100bn to boost oil, gas

Algerian state energy group Sonatrach has approved a $100 billion investment plan for 2014-2018 to increase oil and gas output and also aims to start producing shale gas in 2020, the official APS news agency reported. Opec member

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Algeria, Egypt's Sisi talk security, gas shipments

Algeria agreed to ship five cargoes of liquefied natural gas to Egypt before the end of the year, a source at Algerian state energy firm Sonatrach said, helping its north African neighbour with its worst energy crunch in years. Th

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Germany's Rheinmetall wins $3.7bn Algeria defence deal

German defence group Rheinmetall is set to sign a 2.7 billion euro ($3.7 billion) deal in the coming weeks for the production of 980 Fuchs 2 military vehicles for Algeria, newspaper Handelsblatt reported on Wednesday, without citing sources.

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Petrofac wins $970 million Algerian contract

UK-based oil and gas services group Petrofac, which slashed its 2014 profit forecast by 11 percent this month, said on Friday it was awarded a contract worth $970 million in Algeria. Petrofac said the contract was for gas gatherin

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DP World chief, minister discuss Algeria plans

DP World chairman Sultan Ahmed bin Sulayem has met with Algeria’s Minister of Transport Amar Ghoul to discuss DP World’s successful continued investment in Algeria. DP World was awarded the concession to operate the co

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Algeria's Bouteflika sworn in for fourth term

Algeria's President Abdelaziz Bouteflika was sworn in for a fourth term on Monday after easily winning an election opponents dismissed as fraudulent to re-appoint the ailing independence veteran after 15 years in power. State

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