Algerian Prime Minister Discusses Privatisation Plans
2004-11-04
 [AFP] |
Algerian Prime Minister Ahmed Ouyahia and the directors of Sonatrach, Algeria's national oil company and Sonelgaz, the national gas company, met on Tuesday (2 November) to discuss privatisation. Ouyahia reiterated his government's intention to privatise 1,200 companies. However, some Algerian industry representatives argue that the economy cannot compete at an international level and privatisation must be re-examined.
In a related development, Saidal, the state-owned Algerian pharmaceutical firm, announced this week it ceded 15 per cent of its capital to the Algerian-Kuwaiti Investment Fund. With control of 65 per cent of the capital, the Algerian government remains the firm's main shareholder. The Algerian-Kuwaiti Investment Fund is also keen to invest in other ventures and is seeking opportunities in Algeria in light of the expected privatisation wave. (menareport.com)
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