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Algeria.. $455 million agreement with Italian “PF” to produce grains | Economy

According to Al Jazeera:

Algerian Minister of Agriculture and Rural Development Youssef Cherfa said on Saturday that the ministry had signed a contract with the Italian group Bonifiche Ferraresi-BF for a project “related to the production of grains and legumes on an area of ​​36,000 hectares in the state of Timimoun, with a total value of 420 million euros ($455 million).”

This project will be dedicated to the production of wheat, lentils, dried beans and chickpeas, in addition to the construction of conversion units for the manufacture of food pasta, storage silos and other vital structures.

In addition to the cultivation of grains and legumes, other strategic crops will be included in the agricultural cycle, especially oil plants such as soybeans, according to the Algerian News Agency.

It is noteworthy that on the sidelines of the G7 summit held in the Italian city of Bari last month, an Algerian-Italian partnership agreement was signed to implement a huge project in Timimoun called the “Matei Africa Foundation” that will extend from 2024 to 2028, to produce grains and legumes, as well as food industries.

Earlier, Algerian President Abdelmadjid Tebboune revealed that Algeria's achievement of complete self-sufficiency in durum wheat production is within reach, after producing 80% of its annual needs during this season.

He explained that the abundant production of durum wheat during the current season allowed for saving $1.2 billion for the state treasury.

The president indicated at the time that achieving the strategic goal would be through expanding the cultivated area in the “Great South” to 500 thousand hectares, including Qatari investment primarily across an area of ​​117 thousand hectares in southern Algeria, and Italian investment in 36 thousand hectares, in addition to national investments in 120 thousand hectares.

Mhd Narayan

Bringing over 8 years of expertise in digital marketing, I serve as a news editor dedicated to delivering compelling and informative content. As a seasoned content creator, my goal is to produce engaging news articles that resonate with diverse audiences.

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