Post-Brexit UK eyes energy investments in Algeria
Algeria is calling for investments in its 4,050MW solar power plant which will include the development of local manufacturing of related equipment. (Shutterstock)
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Minister of Energy Noureddine Boutarfa has received, Sunday in Algiers, a British delegation led by Lord Mayor of the City of London Andrew Parmley, with whom he examined business and investment opportunities between Algeria and the UK, especially in the field of energy, said the Ministry in a statement.
Boutarfa and Parmley examined ways and means to finance structuring projects in the sector of energy in Algeria, said the statement.
During the discussions, the minister underlined the partnership projects likely to be concluded in the field of renewable energy.
In this regard, Boutarfa invited firms, investors and financial institutions to respond to the call for investments for the project of 4,050MW solar power plant, which should include the development of local manufacturing of related equipment, said the Ministry's statement.
"The project will be followed by another project of equal importance in the field of wind energy," said the minister, adding "these two projects represent a genuine engine for the socioeconomic development and would open unprecedented prospects for fruitful business and investment opportunities in the African continent."
Boutarfa also gave a broad outline of Algeria's energy policy and investment opportunities in the oil and gas field, as well as in the petrochemical and processing industries.
In this regard, the Lord Mayor of the City of London expressed the willingness of British authorities to "develop business relations with Algeria, which is among their priority and with Africa in general."
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