Economic Developments in Algeria
The Ministry of Agriculture, Rural Development and Maritime Fishing in Algeria has announced the awarding of a franchise contract to the Italian firm BonFiche Ferraresi-BF. This contract is geared towards implementing a comprehensive project aimed at the production of grains, legumes, and food doughs in Timimon, with an investment totaling $420 million.
Minister of Agriculture, Rural Development and Algerian Fishing, Youssef Sharafa, indicated that the concession contract is set for a duration of 40 years and is renewable, signifying the government’s commitment to fostering investment in the agricultural sector.
The minister elaborated that the project has commenced its actual implementation phase. The Italian company has begun establishing workshops, drilling water wells, and installing irrigation and reclamation equipment. Agricultural activities are also scheduled to initiate during the upcoming plowing and seeding seasons, as reported by local sources.
Significant progress is anticipated as the project gears up to start transplanting dry legumes in April.
Spanning 36,000 hectares, the project is designed to cultivate wheat, lentils, dried beans, chickpeas, and oilseed crops such as soy.
In addition to enhancing agricultural productivity, the initiative is projected to generate over 6,700 job opportunities and will feature the development of food dough production units, storage silos, and other essential infrastructure.
