• Algiers

  • Monday, July 8, 2024 at 5:10 AM
    Last Update : Thursday, July 11, 2024 at 7:59 AM

Algeria Signs €420M Agricultural Project Deal with Italy’s BF Group

(AWP) - Algeria signed an agreement on Saturday with the Italian group Bonifiche Ferraresi (BF) S.p.A. to produce grains and legumes on an area of 36,000 hectares in the Algerian province of Timimoun, with a total value of €420 million.

The agreement signing ceremony was attended by Algerian Minister of Agriculture Youcef Cherfa, Algerian Minister of Finance Laaziz Fayed and Italian Minister of Agriculture and Forestry Francesco Lollobrigida.
During the ceremony, Cherfa said the project is part of national plans to develop strategic sectors, adding that it will offer over 6,700 job opportunities, including 1,600 permanent roles.

Zoheir al-Din Salhi, the Director-General of Agricultural Investment at the Algerian Ministry of Agriculture, said in statements to the Arab World Press (AWP) that the project will allow the use of modern technology in his country, particularly in the improvement of yields and achieving food security objectives.

He explained, “The project will be established in the province of Timimoun over a total area of 36,000 hectares, including 35,400 hectares dedicated to farming and 540 hectares for industrial facilities.”

In his speech during the signing ceremony, the Italian Minister of Agriculture said that the project will contribute to achieving food security, creating of wealth, generating job opportunities, and exporting, particularly to African nations.

Federico Vecchioni, CEO of the BF group, told AWP, “I believe the project can provide a strong example of agriculture and the potential to develop the countryside and economy in our two countries.”

He continued, “In the sphere of food production, we have chosen a strategy for both Italy and Algeria for producing grains and legumes, among other products they can produce together.”

Algeria seeks to achieve self-sufficiency in durum wheat by 2027, according to previous statements by the Algerian Agriculture Minister.

The North African nation already began implementing the strategy this year by reclaiming 500,000 hectares of desert land in cooperation with Italian and Qatari partners.