29 August 2012
The Algerian government has asked the Turkish government to become a partner in a USD 2 billion project to build two complexes to produce textiles and clothing, a senior official told Zawya.
The Algerian government has asked the Turkish government to become a partner in a USD 2 billion project to build two complexes to produce textiles and clothing, a senior official told Zawya.
Construction of the complexes will begin in the first quarter of 2013 in the states of Bejaia and Galizan, according to Omar Takdjout, secretary general of the National Federation of Textile and Leather.
According to the proposal, the Algerian government will hold 51% of the shares of the Bejaia factory and 83% of the Galizan plant. Turkey will own the rest.
"The two projects will be followed by a series of other production units based on an Algeria-Turkey partnership as Algeria intends to provide 30% of local market needs of clothing by the beginning of 2014.
Once that target is met, the new factories will begin exports to Europe and Africa," Takdjout said.
© Zawya 2012
