The Algerian private group specializing in the oilfield services (Red-Med) signed in Washington on Thursday a partnership agreement with the international hotel chain Marriott on the construction six three-star hotels in Algeria, for investment of $ 50 million.
The first three-star hotel will be built in the in the province of Adrar, CEO of Red-Med Abdelmadjid Fechkeur said following the signing of the agreement during the Algerian Week on investment and business "Doing business in Algeria'' which works just wrapped up.
"We focused on the industrial and port areas for the construction of these hotels," he said, adding that the partnership was concluded with the support of Ministry of Industry and Mines and also the US-Algerian Business Council (USABC).
As for him, Eric B. Jacobs, director of development of the Marriott chain, voiced his satisfaction with the conclusion of this agreement which consolidates the presence of its establishment in Algeria and in the MENA region.
The Algerian Week devoted to investment and business "Doing business in Algeria,'' opened on Monday in Chicago and continued on Thursday in Washington DC with the participation of forty Algerian public and private economic operators and also officials from the Ministry of Industry and Mines.