Algeria and Egypt will create joint ventures in hydrocarbons

Algeria and Egypt will create joint ventures in the field of hydrocarbons, announced on Sunday the Algerian Foreign Minister Mourad Medelci, at the Algiers meeting of the monitoring committee of the Joint Committee Algerian - Egyptian. "The ministers and experts from both countries were able to identify opportunities extremely encouraging cooperation in the energy sector, where joint ventures will see the light of day in the exploration and liquefaction of gas," said Medelci. Egypt's Prime Minister Ahmed Nazif arrived Sunday in Algiers to attend the proceedings of the committee, said he hoped "to raise economic cooperation between Egypt and Algeria at the height of exceptional political relations" between the two countries. Egypt is the first partner of Algeria in the non-oil investments. Egyptian investments in Algeria amounted to $ 4 billion, said for his part the head of the Algerian government Abdelaziz Belkhadem. He said that further investments of a sum close "are currently under consideration by the National Council of investments particularly in the steel industry. The Egyptian group Orascom is one of the three main operators in Algeria in mobile telephony, with more than 11 million subscribers. It also operates two major cement factories. Mr. Medelci said that the Egyptian companies were "very firm intentions to develop to grow in industrial clusters, steel and aluminium." Apart from industry, twenty agreements should be signed between the two countries concerning the health, education, higher education, scientific research, culture and sports.