Latest news with #Echorouk
El Chorouk
15-06-2025
- Business
- El Chorouk
Algeria Represents the Future For Spanish Companies' Investment
The impact of the economic and trade crisis between Algeria and Spain over the past years has been very significant for companies in the region, Juan Riera, President of the Council of Chambers of Commerce of the Spanish Community of Valenciana, said. He emphasised that Algeria represents the future for many of the Spanish companies' investments, partnerships, local production, and exports to Africa, especially in light of the low production costs of energy and labour. In a statement to Echorouk on the sidelines of an Algerian-Spanish economic forum held Sunday at the Marriott Hotel in Algiers, Juan Riera explained that companies from the region have experienced a decline in their export turnover of approximately 70%. He explained that the impact of the crisis with Algeria has been particularly severe, especially since trade and economic relations between the region and Algeria have been halted by approximately 85 to 90%. Regarding the prospects for investment and partnership with Algeria in the coming period, following the resumption of economic and trade relations between the two countries, Juan Riera explained that the new rules of the game dictate a shift toward local investment here in Algeria, rather than solely focusing on exports. The head of the Chambers of Commerce of the Valenciana Community, which includes the provinces of Valencia, Castellón, and Alicante, confirmed that the Algerian government provides significant support and assistance to investors under a new legal framework, as well as concerning the financing that is available and necessary. Therefore, Juan Riera added, it is necessary to look for a good partner and the right product for export, but especially for local investment and production here in Algeria. In this regard, Juan Riera said, 'I believe that investment and partnerships in Algeria represent the future for many companies in Spain and the Comunidad Valenciana .' The speaker justified his position by stating that Algeria offers extremely attractive opportunities for local production and export to the countries of the South, namely sub-Saharan Africa, which represent markets with enormous potential, especially given the highly stimulating production conditions in Algeria, including the availability of energy (electricity, gas, and fuel) at very competitive prices and an inexpensive labor force. During his speech at the forum, Juan Riera emphasised that Spain is fully prepared to invest and launch partnerships in Algeria if it is provided with legal, economic, and financial protection. He noted that, in such a situation, Spanish companies will be able to launch local production and export projects, particularly to the south, given its strategic location. During the forum, organised by the Algerian-Spanish Club for Trade and Industry, Saliha Nasri, representing the Minister of Environment, gave a detailed presentation to Spanish investors on the prospects for tourism development in Algeria and the opportunities offered by this promising sector in Algeria, given the open workshops. The Spanish operators present also received detailed explanations of investment facilities and procedures, industrial property grants, and other measures presented by a representative from the Algerian Investment Promotion Agency. The forum will continue until Tuesday, June 17, and will include bilateral meetings between Algerian and Spanish business leaders. Field visits to Algerian company headquarters will also be conducted, and partnerships will be explored in a variety of sectors, including logistics, the automotive industry, pharmaceuticals, tourism, agriculture, and other fields.
El Chorouk
10-06-2025
- Business
- El Chorouk
$1.2 billion from Italy's Eni to Algeria in 2024
A formal report by energy giant Eni revealed that the Italian company paid $1.22 billion (1.069 billion euros) to Algeria in 2024, as part of the company's payments to governments managing projects on their territories, while Libya ranked first in Africa with $2.1 billion. The 'Payments to Governments' report for 2024 by Italy's Eni, which 'Echorouk' reviewed, stated that these amounts were paid as part of Eni group's hydrocarbon extraction activities in 2024, and were prepared in accordance with the reporting obligations stipulated in Legislative Decree No. 139 issued on August 18, 2015, within the framework of transparency, and applicable to companies listed on regulated markets in the European Union operating in the extractive industry sector. The report shows Algeria's prominent position as the second largest beneficiary of the company's payments in Africa, receiving $1.2 billion, out of a total of $5.7 billion paid to African governments, representing 61% of Eni's global payments of $9.1 billion. This figure reflects Algeria's strategic role in the company's economic model, supported by a strong partnership with Sonatrach in production sharing contracts, which are characterized by low operating costs and high recovery rates, relying on mature fields and developed infrastructure, ensuring high profitability despite high taxes. Libya topped the list with $2.1 billion, followed by Algeria with $1.22 billion, then Egypt with $826 million, while Nigeria received $566 million, Congo $413 million, Ghana $345 million, Côte d'Ivoire $175 million, and Tunisia $154 million. Payments include profit taxes, operating costs, signing and production bonuses, in addition to in-kind payments converted to monetary values. The report indicates 15 projects in Algeria for which Eni paid more than $1.22 billion to Algeria in 2024, namely Blocks 401a, 402a, 403a, and 403d, Berkine North HDLS, Berkine North ZOI Development, Berkine North HDLE, Block 404/208, In Amenas, Berkine North OZOI Development, In Salah, Berkine South 1, Block 403, ROM North, Block 405b, Berkine North (ZAS), Berkine North (RET), and Berkine North (BKNEP).
El Chorouk
09-06-2025
- Politics
- El Chorouk
Algerian Council of the Nation to Discuss 8 Drafts
The Algerian Council of the National faces 'legislative pressure' starting Tuesday, after eight drafts were scheduled on its agenda, awaiting a decision before the end of June. Parliamentary sources told Echorouk that the government is unlikely to extend the current session, unlike in previous legislative sessions. This fact is reinforced by the absence of controversial amendments to the proposed legal texts, especially since the MPs did not introduce any changes that sparked widespread debate during their discussion of the same bills. Scheduling two bills per day for the Council of the Nation, according to the same sources, will facilitate the pace of discussion and pave the way for ratification before the conclusion of the upcoming session at the end of June. However, members of the upper house of parliament will face significant pressure due to the dense agenda and session schedule, especially since the debate will begin with a draft law amending and complementing the law regulating the organisation, functioning, and jurisdiction of the Court of Conflicts. This is the first draft scheduled for discussion on Tuesday. During the same session, the provisions of the draft law on the prevention of narcotic drugs and psychotropic substances and the suppression of their illicit use and trafficking will be discussed. This text is included within the legislation related to health and social security. Discussions will also include other draft laws, the draft Criminal Procedure Code, a draft law on general mobilisation, a draft contract law, and a draft social insurance law. On the economic front, a draft law on mining will be discussed, in addition to the draft budget settlement bill, one of the annual texts presented as part of the financial monitoring of public finance management. This session is the first practical test for the 64 new members of the National Assembly, as they will participate for the first time in discussing draft laws in the upper chamber, during official sessions expected in the coming days. Parliamentary sources confirm that the final versions of the draft laws did not undergo any controversial amendments during their discussion in the lower house, which may facilitate their approval within the specified deadlines, without the need to extend the session or initiate comprehensive discussions. Article 138 of the Constitution stipulates that Parliament shall meet in one ordinary session per year, lasting ten (10) months, beginning on the second working day of September and ending on the last working day of June. The Prime Minister or the Head of Government, as appropriate, may request an extension of the ordinary session for a few days to complete the consideration of an item on the agenda. The discussion sessions are expected to be closely monitored by various parliamentary blocs, given the importance of the issues under discussion, especially those related to projects that deal with sensitive social and economic aspects. Previously, the Algerian Parliament, in both its chambers, witnessed an extension at the request of the government in previous sessions, whether due to the sensitivity and importance of the legal projects referred for discussion, or as a result of the inclusion of urgent texts that imposed themselves at the end of the session, which necessitated extending the work for a limited number of additional days to complete the study of the outstanding points and decide on them.
El Chorouk
25-05-2025
- Automotive
- El Chorouk
Algerian-Slovenian Partnership in the Automotive Industry
Algerian-Slovenian consultations have begun regarding the possibility of launching joint industrial cooperation in producing auto parts and vehicle components, reflecting Algeria's ambition to establish an integrated mechanical industry based on local integration and smart partnerships. These discussions revolve around two main options: either the exchange of products between Algerian manufacturers and their Slovenian counterparts or establishing joint industrial projects that capitalize on the capabilities of both parties. During a senior official visit, the Slovenian side received a detailed presentation on the Algerian market's opportunities, needs, and the high quality of spare parts and components that can be provided locally. In this context, Adel Bensassi, head of the Mechanics Association, told Echorouk that, as part of Algeria's efforts to revitalize the automotive industry according to a new vision based on high integration rates and effective local production, preparations have begun for possible industrial cooperation with Slovenia in the field of subcontracting and spare parts. He indicated that a meeting is expected soon, possibly during next September on the sidelines of the African Exhibition in Algiers at the latest. This comes in parallel with the agreements ordered to be implemented by President Abdelmadjid Tebboune following his recent visit to the European country. Bensassi, who is also Chairman of the Advisory Council for the Promotion of Small and Medium-Sized Enterprises, explained that the Algerian business delegation that accompanied the President during his visit to Slovenia two weeks ago discussed with the Slovenian side opportunities for joint business, both through parts manufactured locally in Algeria and those produced in Slovenia, with the possibility of exchanging products to serve vehicle factories in both countries. He added that 'the discussion revolved around Algerian spare parts that meet specifications and are certified by regulatory bodies, capable of entering the European market, in exchange for importing high-quality Slovenian parts that would contribute to increasing the rate of industrial integration in Algeria, or even joint factories for spare parts and auto components from Algeria and Slovenia. The Slovenian side appeared open to all forms of cooperation'. Bensassi asserted that the visit also included a field visit to an auto parts manufacturing company in Slovenia, where the Algerian delegation expressed its admiration for the technological advancements adopted in manufacturing, particularly the use of advanced machinery and digitalisation in standardisation and quality control. Precise technical observations were recorded by Algerian experts for study and use in developing the local industrial fabric. He emphasized that the revival of the automotive spare parts industry is being personally monitored by the Industry Minister, who expressed a progressive vision based on a genuine desire to produce various automotive components locally, thus providing new factories with real opportunities for full integration into the manufacturing system, rather than relying solely on assembly or import. 'This cooperation is not limited to Slovenia alone, but extends to several leading countries in the field of subcontracting and manufacturing automotive parts, as part of a national strategy to reduce dependency and reduce the import bill,' he added. Examples of leading Slovenian companies in this field include TPV Automotive, a leading manufacturer of metal structures and chassis components, and a direct supplier to global car manufacturers such as Renault and BMW Dublovi. Hidria Group specialises in ignition and combustion systems and precision mechanical parts for diesel and gasoline engines. Ampol Group produces aluminium parts used in the automotive and aeronautics industries. Kolektor Group manufactures electrical systems and mechanical parts used in engines and vehicle control systems. Bensassi concludes that Algeria, as it lays the foundations for a truly successful vehicle manufacturing industry, is betting on building smart partnerships with experienced industrial nations, such as Slovenia, to ensure a smooth transition to an integrated manufacturing system based on efficiency, quality, and industrial sovereignty.
Ya Biladi
07-05-2025
- Politics
- Ya Biladi
Power outage in Spain : Algerian media blame Morocco and contradict Pedro Sanchez
The Algerian media never miss an opportunity to exploit situations to accuse Morocco and hold it responsible for regional crises. Recently, these outlets rushed to promote a narrative alleging Morocco's involvement, alongside Israel, in a cyberattack that caused a power outage in Spain, claiming it was a «retaliatory response» to Madrid's support for the Palestinian people. However, these claims quickly lost credibility, especially after official statements from Spanish Prime Minister Pedro Sanchez, who expressed gratitude to both Morocco and France for supplying electricity to southern and northern Spain during the crisis earlier last week. Despite this, the newspaper Echorouk, known for its proximity to the authorities, published an article refuting Sanchez's statements, claiming that «the Spanish refuted the lies of the Makhzen», and adding that «the Makhzen committed a scandal that made it a subject of ridicule and mockery in Spain: it officially announced, through its press, that it helped Spain and provided it with electricity during the the blackout». The article claimed that as soon as the news was released, a storm of mockery swept through the media and social networks, disproving the Moroccan claim and exposing its malicious intent. In an attempt to justify its claims, the newspaper published fabricated statistics, alleging that «Morocco has one of the worst electrical networks in the world, that half of its cities experience daily power outages and fluctuations, that a third of its population only uses electricity at night due to high bills, and that a quarter—especially in rural areas—do not have access to electricity, according to the World Energy Organization and the testimony of Moroccans themselves». The Algerian newspaper also cited an article by Spanish journalist Ignacio Cembrero, known for his hostility towards Morocco. Describing him as «the greatest Spanish journalist», the article further claimed that «the Moroccan grid was saved, not the other way around. The power outage required an immediate adjustment of the Moroccan electrical system, which was successfully implemented». Echorouk continued, claiming that the Spanish Prime Minister thanked the Makhzen for «imaginary assistance» in supplying Spain with electricity. Spanish commentators reportedly said: «Do not pay attention to what the Prime Minister said; he is more Moroccan than the King of the Makhzen». Spanish Media Confirms Morocco's Crucial Role Contrary to the claims of the Algerian media, major Spanish newspapers covered Morocco's support for Spain. El País reported, «Morocco, which usually relies on Spain to meet its growing electricity needs, mobilized up to 38% of its production capacity on Monday afternoon (April 28) to send energy, aiming to restart supplies cut off due to the power outage in southern Iberian Peninsula». El Independiente noted that at the time of the power outage, Morocco was «importing about 778 megawatts of electricity from the Spanish grid». It added: «In record time, Morocco managed to prevent its supply from dropping to zero, a rare incident that lasted for 12 hours and became a lifeline for the Iberian Peninsula». The newspaper explained that Morocco exported 5.45% of the electricity available in the Spanish market, generated from a mix of coal and natural gas. Spain and Morocco are connected by two electrical links with a capacity of 400 kilovolts and 1,400 megawatts, installed in 1998. A third link is scheduled for implementation in 2028. The Kingdom is also considering a connection with France and Mauritania. Morocco's Energy Independence Plans Morocco is actively seeking energy independence. Recently, the Ministry of Energy Transition and Sustainable Development launched a tender to develop national gas infrastructure, including the construction of Morocco's first liquefied natural gas (LNG) terminal at the Nador West Med port. The Kingdom is also pursuing the construction of an African Atlantic gas pipeline from Nigeria—a project that Algeria deems unfeasible—while promoting its own project to transport gas from Nigeria to the Mediterranean through Niger, despite strained relations with Niger, which have escalated to the point of recalling ambassadors. This media campaign is part of a broader pattern of repeated accusations by official or pro-government media in Algeria, targeting Morocco in every crisis or incident. The intensity of these media attacks increases whenever Morocco achieves diplomatic successes on the international stage, particularly regarding the Western Sahara conflict.
