(Ecofin Agency) – Algeria depends more than 75% on imports for its wheat needs. While consumption is not weakening, the sector is attracting more and more funding to increase production.
The Algerian Investment Promotion Agency (AAPI) is in talks with the Italian company Bonifiche Ferraresi (BF) specializing in agriculture for the realization of a project in the wilaya of Timimoun. This was revealed by Omar Rekkache, general director of the public body, on June 3.
According to the official, this project will be implemented with the support of the National Investment Fund (FNI) for a total cost estimated at more than $420 million. It concerns in particular the cultivation of cereals over a total area of 36,000 hectares.
“This project also includes the construction of a factory for manufacturing pasta intended for export. The AAPI is responsible for granting investment benefits to foreign companies. », adds Mr. Rekkache without giving additional details, according to local media. It should be noted that last February, Federico Vecchioni, CEO of BF, had already announced an investment project in southern Algeria.
More broadly, BF’s investment in Timimoun comes in a context where the Algerian cereal industry expects a good harvest this year. According to the latest forecasts made by the United States Department of Agriculture (USDA), wheat production is expected to increase by 11% to reach 3 million tonnes in 2024/2025 while annual consumption of the cereal is around 11.2 million tons.
Stéphanas Assocle
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