Algeria-Russia: Several investment projects in mechanical engineering expected

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The potential for partnership between Russia and Algeria is promising for the creation of joint projects in the mechanical engineering and renewable energy sectors, said the Russian Deputy Minister of Industry and Trade, Alexander Morozov, in an interview with the APS.

 

“At the moment, there are concrete and high-tech industrial projects aims at promoting bilateral investment partnerships. The Algerian and Russian governments consider them as necessary to begin diversifying  the economic and commercial relations Between the two countries, “said Morozov, whose country was the guest of honor at the Algiers International Fair in May.

Citing the branch of the railway industry, he said that three Russian companies are ready to invest in Algeria through a long-term partnership, namely Uralvagonzavod, PAO NPK OVK and ZAO Transmachholding.

“These companies are interested in carrying out projects with Algerian partners through joint factories for the assembly of rolling stock and the creation of service centers in the railway sector,” he said.

In addition, the Russian company PAO KAMAZ, which is the largest producer of heavy-duty vehicles in Russia, “is ready to make proposals for partnership in the field of vehicle industry.”

Mr Morozov also mentioned a partnership project with the Russian company Rostselmach for the production of combine harvesters in Algeria: “this project is currently being examined”.

In the same regard, he considers that all these projects are in a position to ensure, in the near future, the preconditions for strengthening bilateral cooperation and the pace of joint investments between Algeria and Russia.

According to him, Russian companies are also interested in cooperation with Algeria in areas such as green energy, industrial and household waste treatment and water resources management.

Regarding cooperation in renewable energies, the Russian minister highlights the interest that brings his country to the vast program of renewable energies launched by Algeria to reach a capacity of 4,500 megawatts until the year 2030.

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