Algeria is reviving a massive cement factory previously owned by an oligarch convicted of corruption. The project represents an investment of 50 billion dinars, equivalent too $380 million based on the current exchange rate of 130 dinars per dollar.

The Djelfa cement factory project, initially launched by the private group ETRHB Haddad, was seized during anti-corruption trials. Now, the Algerian public group GICA and the Chinese construction giant CSCEC, formerly associated with Haddad, are set to relaunch it.

The Minister of industry, Sifi Ghrieb, visited the site this Saturday, June 21, accompanied by the Wali of Djelfa. The minister inspected the cement plant relaunch project, which “ Be part of the industrial projects confiscated and which benefit from particular attention from the President of the Republic, within the framework of the national strategy to revive economic activity and to enhance underused assets ” according to a press release from the Ministry of Industry.

Sifi Ghrieb received a detailed presentation on the project from business managers,covering the technical and financial status,remaining obstacles,and the Chinese partner’s contribution to the implementation phases,the same source added.

Algeria Revives Major Cement Factory Project in Djelfa

“ to complete the project and ensure its entry into operation quickly »

Last week, the inter-ministerial committee decided to allocate 51% of the project’s assets to the GICA public group and 49% to the Chinese partner, “ in order to complete the project and ensure its entry into operation as soon as possible ».

Following Saturday’s inspection,the minister and the wali chaired a coordination meeting at the wilaya headquarters,with representatives of the Chinese partner present. Several decisions were made, including the appointment of a specialized expert to assess the project’s current assets, determine technical and financial needs, and develop a precise roadmap for its completion, the ministry indicated.

The cement plant project, located on a 100-hectare site, is estimated to cost 50 billion dinars.The factory is expected to produce 3 million tonnes of cement per year, creating 350 direct jobs and over 700 indirect jobs. Its strategic location ensures easy connection to national logistics networks, according to the Ministry of Industry.