China to invest $36 bln across multiple sectors in Algeria

China to invest $36 bln across multiple sectors in Algeria: Ennahar TV

China will invest several billion dollars in Algeria, following an official visit by the latter country's president to Beijing.

Economy

1 min read

�� Staff & Agencies

20 July, 2023

China and Algeria inked deals worth billions of dollars [Getty/archive]

China will invest $36 billion in Algeria across sectors including manufacturing, new technology, knowledge economy, transport, and agriculture, Ennahar Online quoted Algerian President Abdelmadjid Tebboune as saying on Thursday.

"The projects and agreements concluded with the Chinese side are huge and mutually beneficial to both countries," said Tebboune, speaking during a meeting in Shenzhen province with representatives of the Algerian community in China.

President Tebboune has been on an official visit to China since the beginning of the week, meeting with Chinese leader Xi Jinping in Beijing on Tuesday.

The Algerian President said on Thursday that Algeria seeks to bring economic relations with Beijing to the level of "good historical political relations" and that his visit opened "all horizons of investment" between the two countries.

(Reuters)