Hisham Kandil has announced a new deal between Egypt and Algeria
Algiers – Hocine Bousaleh
Egyptian Prime Minister Hisham Kandil has announced a new deal between Egypt and Algeria over a new construction material production project.
This agreement aims to meet
Algeria’s demand in the construction industry. Kandil welcomed Algeria’s enthusiasm to create a bilateral cooperation with Egypt in several industries. The Prime Minister was relieved to see an improvement in Egypt’s bound with Algeria, after a serious deterioration in their relationship in 2009 following a football match.
Algerian Prime Minister Abdel Malek Sellal and Kandil discussed future Egyptian investments in Algeria. Kandil said that several agreements were signed and that further meetings between the two countries will take place.
Kandil planned to build up to 2.5 million accommodations by 2014. Egyptian companies will take part in these projects and have a share of the profits.
Kandil also said that Algerian oil could be exported to Egyptian oil refinery in the future.