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  US-Saudi Aggression
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Algeria, Italy ink 420 Million Euro deal to boost wheat production, food security
Algeria, Italy ink 420 Million Euro deal to boost wheat production, food security
Algeria, Italy ink 420 Million Euro deal to boost wheat production, food security
[Sun, 07 Jul 2024 11:25:28 +0300]

ALGERIA July 07. 2024 (Saba) - Algeria and Italy signed a 420 million euro agreement on Saturday aimed at enhancing wheat production and bolstering food security in the largest African nation, according to a joint statement.

The Italian group Bonifiki Ferraresi (BF) and Algeria's National Investment Fund will collaborate on a project spanning 36,000 hectares in Timimoun state.

The initiative focuses on cultivating grains and legumes such as wheat, lentils, dried beans, and chickpeas. Additionally, plans include establishing a pasta production unit and a storage facility.

Set to commence in 2024, the project aims to expand exports and generate over 6,700 employment opportunities, as per official sources.

Algeria aims to achieve self-sufficiency in durum wheat by increasing production areas to 500,000 hectares in the southern regions, announced Algerian Minister of Agriculture Youssef Charfa to the Algerian News Agency earlier this week.

He also highlighted plans to reclaim 500,000 hectares of land in the southern states starting this year to bolster national grain production and ensure food security.

The agreement, part of the "Matti Plan" named after Enrico Matti, founder of the Italian energy group Eni, emphasizes cooperative relations with African countries.

The signing ceremony was presided over by Algerian Ministers of Agriculture and Finance Youssef Charfa and Aziz Fayed, alongside Italian Minister of Agriculture Francesco Lollobrighi.

resource : Saba


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UPDATED ON :Mon, 22 Jul 2024 23:23:28 +0300