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Bulgarian Construction Firms Invited to Join Algeria's Impressive Devt Program

1 min read Construction Source: Novinite

From our news archive: this article was published in March 2011. Figures and rules may have changed since.

Algeria's Ambassador to Bulgaria Ahmed Boutache has invited Bulgarian construction entrepreneurs to seek opportunities to participate in massive projects in his country.

His Excellency met Thursday with the chair of the Confederation of Employers and Industrialists in Bulgaria (CEIBG) Ognyan Donev and CEIBG executive director Evgeniy Ivanov.

Ambassador Boutache has invited CEIBG, one of the major business associations in Bulgaria, to participate in the Program for Reconstruction and Development of Algeria, which provides for USD 286 B in construction and infrastructure investments for 2010-2014.

On 24 May 2010, the Algerian government approved on a USD 286 B five-year investment plan that aims to boost infrastructure as well as diversify the country's economy away from oil dependency. Algeria launched a similar five-year plan for 2005-2009 to build infrastructure including a 1200-km long highway, water desalination plants and thousands of state-subsidized housing units.

The 2010-2014 development program provides for the construction of 1.2 million apartments.

Algeria's Ambassador Boutache has already discussed the participation of Bulgarian companies in the construction with the Bulgarian Construction Chamber, which itself is a collective member of the CEIBG.

His Excellency has also invited CEIBG to take part in a construction expo in Algeria at the end of 2011, and to participate with a business delegation in the visit of Bulgarian Foreign Minister Nikolay Mladenov to Algeria expected to take place in the upcoming months.

Originally published by Novinite.

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