Economy

Minister of Industry: The industry sector carries on the dynamic of granting real estate to investors.

The Minister of Industry Ahmed Zeghdar confirmed yesterday, Thursday in Algeria, that the sector continues to adopt a new dynamic of granting industrial real estate to those who actually invest in it.

The minister said, during a session devoted to answering oral questions in the National People’s Assembly, that “the real estate is for those who invest in it,” stressing that the approved dynamic is to investigate every investor who does not take advantage of the real estate granted to them and did not achieve the planned investment, so that the sector continues to recover important areas in several states.

The minister also evoked the continued implementation of the government’s action plan regarding the revival of closed companies.

The minister laid special emphasis on the revival of  the incandescent lamp production factory affiliated to the “ENIEM Al-Djazair” complex and the former “ Sogedia” oil company.

The activity of the incandescent lamp production factory was suspended in 2016, due to the worn-out condition of the electrical equipment and materials after stopping the activity for a long time.

This situation caused the company’s global competitiveness to decline due to the lack of development of its activity and its reliance on old technologies.

The minister stated that the ministry is in the process of examining its status, as the factory will experience a revival during the next three years, after searching for partners, as it needs advanced and supportive technologies.

After resuming activity, this factory will be able to create 350 jobs, according to the minister.

With regard to the former “Sogedia” company, located in the province of Mascara, the minister indicated that it was sold at public auction in 2008 and its properties were confiscated, and it is currently under the authority of the Fund for confiscations.

After the justice decision is issued, the sector will seek to revive this company “soon”, and transfer it to the Agrodev complex, with the completion of studies on how to exploit it again, renew its equipment and its effects on the environment, according to Ahmed Zeghdar.

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