General Electric to invest in Algeria

The U.S. industrial conglomerate General Electric (GE) appears ready to increase its investment in Algeria, the perspectives delivered in a statement released on the sidelines of the U.S. summit of President Barack Obama and forty African leaders in Washington, including the Algerian Prime Minister Abdelmalek Sellal.

Also present in the United States at the US-Africa summit, Youcef Yousfi who will hold talks with the CEO of General Electric, Jeffrey R. Immelt, to review the possibilities for future partnerships after those made in Algeria in recent years, including a mega-contract with the Sonelgaz group for $ 2.2 billion. The project involves the manufacture of steam turbines, gas turbines, generators and control systems to enable control to generate about 2,000 megawatts (MW) annually to meet the growing demand for electricity in Algeria.

It should be noted also, according to the statement released yesterday in the U.S., that “Africa has become the most promising region in the world in terms of growth” for the U.S. group, which cites Algeria in the same way as Nigeria and Angola. GE announced it will invest $ 2 billion by 2018 on the African continent in vocational training, infrastructure construction and sustainable development initiatives.

0 0
Article Categories:
North Africa

Leave a Reply

Your email address will not be published. Required fields are marked *