Major Investments in Algeria: Asian Investors Eyeing Steel and Aluminum Sectors

✏️ BY: Dr. Hana Saada

Algiers, Algeria | May 19, 2024 — Significant investments are on the horizon for Algeria, with several Asian industrialists, ranging from 6 to 7 investors, preparing to make substantial commitments to the country. This revelation came from Omar Rekkache, the Director-General of the Algerian Investment Promotion Agency (Aapi), during a conference co-organized with the European Union delegation under the theme “Exploring New Investment and Nearshoring Opportunities in Algeria.” The event, attended by Minister of Industry and Pharmaceutical Production Ali Aoun, shed light on the burgeoning interest in Algeria’s industrial potential.

Focus on Steel, Metallurgy, and Aluminum

Rekkache highlighted the advantages offered by Algeria’s new investment code and the favorable business climate, combined with competitive economic conditions on global markets. As a result, major Asian companies are eager to channel their investments into Algeria, particularly in the steel, metallurgy, and aluminum sectors. Some of these investment projects are estimated to reach a staggering $6 billion.

Algeria: A Favorable Investment Destination

According to Rekkache, Algeria’s abundant resources, favorable investment climate, and competitive production costs, especially for energy and labor, make it an attractive destination for foreign investment. He emphasized that these advantages are unparalleled elsewhere in the world, making Algeria a standout choice for international investors.

Lion Group to Relocate Iron Production Unit

Among the seven prominent investors seeking to establish a presence in Algeria, three have completed their dossier submissions to Aapi, with the certificate of registration expected to be issued soon. While Rekkache did not disclose the identities of these investors, he mentioned that they include Russian and Chinese investors, as well as the Malaysian Lion Group.

Regarding the Lion Group’s investment plans, Rekkache explained that negotiations for land acquisition have caused delays in finalizing the project. The Malaysian partner’s demand for a large land area with specific conditions has led to negotiations to adjust the land requirements. The Lion Group’s portfolio includes projects for mining exploitation, such as aluminum and iron ores for industrial use.

Future Prospects

The Malaysian group’s investment plan comprises two phases, including the relocation of an iron production unit from Malaysia to Algeria and the establishment of a new aluminum production unit. Additionally, plans include the construction of a high-capacity power plant to ensure energy self-sufficiency, reflecting a significant commitment to Algeria’s industrial growth.

These forthcoming investments underscore Algeria’s growing appeal as a strategic investment destination and highlight the potential for significant economic development in key industrial sectors.

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