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Algerian, US Groups Ink $300M Dairy Deal

25 January 2017

ALGERIA - An investment agreement worth $250 to $300 million (nearly 25 to 30 billion dinars), on the achievement of several agricultural projects in the southern province of Adrar (1543km south of Algiers) was signed on Monday (23 January) in Algiers between Algerian private dairy group Tifralait and the American International Agriculture Group (AIAG).

The agreement was signed in the presence of Minister of Agriculture, Rural Development and Fisheries Abdesselem Chelghoum and President of the Algerian-US Business Council Smail Chikhoun.

The two groups agreed to create a joint venture for the achievement, over an area of 25,000 hectares, several projects covering the industries of potato, fertilizers, cereals, dairy, cattle feed, maize and soya.

This project will be carried out under the 51/49 per cent rule governing foreign investment in Algeria.

Source: Algeria Press Service

TheCattleSite News Desk

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