Algeria, Saudi Arabia agree to launch 5 economic projects during visit of Saudi crown prince

Algeria and Saudi Arabia on Monday agreed to launch five economic projects during the visit of Saudi Crown Prince Mohammed bin Salman Al Saud.

The five projects, due to be launched in 2019, were agreed upon at the 12th Algerian-Saudi Business Forum held in the capital Algiers earlier in the day.

These projects are about the manufacture of inorganic chemicals, chlorine and caustic soda used for water purification, which include a pharmaceutical industry project worth 10 million U.S. dollars, a healthy-paper plant worth 20 million dollars, and a project for the production of juices.

Algerian Minister of Industry and Mines Youcef Yousfi, co-chair of the forum, said these projects are part of his country’s will to develop partnership with Saudi Arabia.

The industrial sector is on the top list of the partnership with Saudi Arabia with 12 projects worth about 100 million dollars, involving the fields of chemicals, construction, food industry, as well as iron and steel, he added.

During his meeting with Algerian and Saudi media, writers and intellectuals, Saudi Information Minister Awad bin Saleh al-Awad urged the strengthening of relations between the two countries with more cooperation, mutual visits and programs.

Saudi Crown Prince Mohammed bin Salman Al Saud wrapped up a two-day official visit to Algeria on Monday.

During the visit, the Saudi crown prince met with Algerian Prime Minister Ahmed Ouyahia to discuss bilateral relations, developments of the oil market, and international and regional issues of common interest including the situation in Palestine, Libya, Syria and Yemen.

Source: Xinhua

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