It is understood that on May 31, China National Materials Construction Co., Ltd. signed a contract with enterprises affiliated to Algeria's industrial and mineral sectors to contract two cement production lines worth 3.05 billion yuan.
As a subsidiary of Sinoma Group, the largest cement production equipment R & D and manufacturing enterprise in China, the two clinker cement production lines with a daily output of 3200 tons and 4500 tons contracted by Sinoma Construction will greatly alleviate the current shortage of cement in Algeria.
Peng Jianxin, president of Sinoma Co., Ltd., who attended the signing ceremony on behalf of Sinoma Group, told Xinhua that Algeria has resources and needs in cement production, but lacks relevant technology, while Chinese-funded enterprises have mature modern production technology and can provide high-standard and high-quality equipment and services. This win-win situation is a model of Sino-foreign capacity cooperation.
Abdeslam Boushawarib, an official in charge of Algeria, said at the signing ceremony that Algeria is vigorously developing its own cement production in order to change the status quo of importing cement with huge investment as soon as possible, and Chinese enterprises have played an important role in the construction of its cement production line.
One of the contracted cement production lines is located in a remote area in southern Algeria, and the project will not only accelerate local socio-economic development, but also provide considerable employment opportunities for local people, said Boushawarib. He welcomed more Chinese enterprises to participate in Algeria's industrialization process and hoped to carry out more extensive cooperation in the fields of engineering equipment manufacturing and mineral development.
Algeria is rich in oil and gas resources, but due to the impact of falling international oil prices, Algeria's foreign exchange earnings have decreased sharply in recent years. The Afghan government has introduced a series of measures to limit the outflow of foreign exchange, while encouraging foreign investment to develop domestic industries and replace imported products.
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