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FINANCIAL NEWS
Algeria, U.S. ink deal at USD300mn for agricultural projects
26 Jan 2017
(MENAFN) An Algerian firm has inked a deal with a U.S. group to launch agricultural projects worth USD300mn in the N. African nations to cut dependence on imports.
Meanwhile, privately-owned Algerian dairy firm Tifralait and the American Group will set up a mutual venture to develop projects over an area of 25.000 hectares.
The country’s imports most of its agriculture-related products due to weak local output, but has vowed to develop the farming sector to spread the economy.
Additionally, oil and gas earnings still account for 60 percent of the state budget and 95 percent of total exports for the OPEC member nation.
M
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