A framework agreement was signed in Algiers by the Minister of Industry and Mines, Abdeslam Bouchouareb and Chinese Vice Minister of Commerce, Qian Keming for the implementation of a series of infrastructure projects with the involvement of companies Chinese in performance of the new Algerian economic model, in which the industrial sector occupies a prominent place. This agreement reflects the new path of economic cooperation between Algeria and China with the launch of various industrial projects and prospects in the exploration and exploitation of mines and in new technologies.

In this context, among the objectives of the Convention signed at the headquarters of the Ministry of Industry and Mines, was announced the creation of a new platform that can promote the joint implementation of measures to modernize production capacities and development through the access of businesses to new industrial technologies with the transfer and optimization of production capacities. Among the sectors the most involved are the manufacturing industries, the construction of supporting infrastructure, exploitation of resources and energies through partnerships, foreign direct investment, trade in equipment and technical cooperation. 

There are ten sectors of activity covered by this new agreement between Algeria and China: engineering, railway, steel industry, infrastructure, petrochemical, renewable energy and energy efficiency, oil and gas, engineering, processing of mine products, materials construction, household appliances. By the end of 2015, the Algerian Central Bank had issued a note it provided that imports from China were settled in the Chinese currency. The decision was reaffirmed by Algerian Minister of Industry, Abdesselam Bouchouareb in the occasion of the cooperation agreement signed with China. As reported by the Central Bank Algerian “being China – first trading partner of Algeria, imports from this country should be adjusted in the Chinese currency. Such a formula would eliminate the prizes for the exchange risk coverage in the case of payment another currency”.

(ITALPRESS/MNA).

Source: medNews

Virtu Ferries has signed a contract with the Incat Tasmania Pty Ltd. to realize the construction of a high-speed catamaran for passengers and vehicles between Malta and Sicily. Delivery is scheduled for the 4th quarter of 2018. With a thousand gross tons, the ship will be the largest catamaran ever built RoPax to operate in the Mediterranean, as well as the second largest in the world. The ship will have a capacity of 900 passengers in four luxury saloons on two passenger decks and additional outdoor seating. The entire space of the garage-bridge is designed to carry 23 heavy commercial vehicles, totaling 490 linear meters of rolling cargo and 167 cars. At a cruising speed of 38 knots, the crossing from Malta to Sicily will be, as for Jean de La Valette, about 90 minutes. Incat Tasmania are the world leaders in the construction of large high-speed ferries with a focus on fuel efficiency and low environmental impact.

INCAT buildings, both commercial and military, they are located in all four corners of the world. Using Computerized Fluid Dynamics (CFD) with advanced testing techniques of free-running hydrodynamic model, the proven Incat, is characterized by “breaking” the waves thanks to its special hull form developed specifically for this route. The hydrodynamic tests were performed and approved by Seaspeed Marine Consulting Ltd on Haslar Ocean Basin reservoirs and Ship Tanks Gosport in the UK – normally associated to the British Ministry of Defence projects.

The project, already tested, the hull of the catamaran Incat, has been further developed to “break” the waves, to minimize the fuel consumption, to increase the comfort of the passengers and the seakeeping performance, at a certain speed simulated, typical of sea conditions prevailing in the Malta Channel. Everything in line with the Green Policies regulations, established by the international maritime sector.

The new vessel will be used on the main stretch of Virtu between Malta and Sicily, alongside Jean de La Valette. The current round travel program and daily return of the two islands neighboring the EU, will be further enhanced to better link Malta to mainland Europe. The Virtu is also looking at further expanding markets; a second vessel will increase the flexibility and reliability of the company. The company is undertaking a series of initiatives to boost inbound tourism and improve the business between the Maltese and Italian communities. The new ferry will be built in accordance with DNV-GL Classification Society Rules Regulation in full respect of the IMO High Speed Craft HSC 2000 Malta Flag Statutory Regulations and the requirements of the Italian Port State. As well as for all other Virtu vessels, the new catamaran will beat the Maltese flag.

(ITALPRESS/MNA).

Source: medNews

Albania offers significant investment opportunities in different sectors of the economy, from energy to tourism, infrastructure, agriculture and the food industry: the said Albanian Prime Minister Edi Rama addressing the German entrepreneurs to German-Albanian economic forum held in Hamburg. The Albanian Prime Minister said that there is still great potential to be exploited in the hydroelectric energy sector, oil and minerals. Even the production of the sector has great potential for development with cheap labor and with the best qualifications that you can find in Europe.

(ITALPRESS/MNA).

Source: medNews

The Investment Commission has recently prepared a list of 45 projects as an investment opportunity for a value of about $ 4 billion that cover seven economic sectors: transportation, water, energy, tourism, logistics, industry and real estate development.

Interestingly, the Investment Commission, in cooperation with USAID will contact a specialized agency to implement the strategy of promotion of investments over the years (2017-2019).

The strategy aims to attract and encourage investment domestic and foreign, the promotion of investment and the environment investment opportunities, to provide services to investors, building a database of local and foreign investors to facilitate communication and raise awareness, in cooperation with the Jordanian Embassies abroad,

Investment opportunities in the Hashemite Kingdom. Net foreign direct investment in Jordan during the first quarter of this year increased by 53.3% amounting to 120.1 million dinars, compared with the same quarter last year.

(ITALPRESS/MNA).

Source: medNews

Test drilling and geological seabed are being held in Delimara to define the route of the pipeline linking Malta with Italy.

According to recent statements by the Maltese Minister without portfolio, Konrad Mizzi, the operation is part of a comprehensive study concerning the route of the pipeline in the seabed, the basic design and documentation necessary for requesting permission for its construction.

The study lasting one year is conducted by a private company and is co-financed by the European Community.

The pipeline will allow the island was no longer dependent on oil for electricity generation.

Float unit of temporary storage of gas will be used till it has completed the pipeline. This will mean that once completed the construction of the pipeline, the unit will be removed and the emissions will be considerably reduced.

It important to note that the pipeline has nothing to do with the interconnector, which transports electricity directly. The pipeline will supply gas to the Delimara power plant that will generate electricity later.

The Maltese government is committed to the realization of the project in the shortest possible time to ensure the Maltese households and companies providing energy.

The project is part of a PIC list presented by the European Commission on October 14, 2013.

A Project of Interest Municipality (PIC) is defined as a project can offer significant improvements to at least two Member States, contributing to market integration and the enhancement of competition and security of supply and the reduction of CO2 emissions.

The pipeline will link Gela with Malta with a unit of FSRU regasification and will have a length of 150 km with a daily capacity of 1.1 million cubic meters/g.

(ITALPRESS/MNA).

Source: medNews

According to data from the Moroccan Ministry of Infrastructure and Transport, the investment plan for the rail transport sector in the period 2012-2016 is more than doubled compared with the period 2008-2011, from 13.2 (1, € 2 billion) to 30.8 billion dirhams (2.9 billion euro). The five-year period 2012-2016 has been dedicated to the development of the rail network, through the work of preparation of the TGV (high speed train between Tangier and Casablanca, which operations is expected in 2018) and logistics platforms. As for freight transport, in the period 2012 – 2016, the volume of goods transported (except for phosphates) has reached the figure of 53.9 million tons. Moreover, according to data provided by the Ministry, the number of travelers has increased by 18% during the period 2011-2015, from 33.9 million to 40 million travelers. This increase was coupled with a significant improvement of services, as the quality of their satisfaction rate increased from 62% in 2011 to 76% in 2015. This positive performance is due to the construction and refurbishment of as many as 25 stations, 8 of which have been realized or restarted, 8 are under construction, while 9 are in the completion phase. The growth of rail traffic in Morocco is also favored by other factors such as the strengthening of the service (from 72 902 trains per year in 2011, we moved to 78 386 trains per year in 2015), increasing the capacity of the sections Casablanca – Kenitra and line Casablanca – Marrakech. As for traffic safety and travelers, the Ministry of Transport has disclosed an action plan of 140 million euro which will lead to improved and increased safety of railway lines, despite the increase in the volume of activity. This action plan has resulted in the elimination of 164 level crossings, upgrading of signaling on 193 level crossings, the construction of 892 km of anti-intrusion systems, 14 walkways and underground passages 5 inside the stations, as well the launch of awareness campaigns targeted at passengers. These initiatives have also made it possible to reduce accidents along the rails (17 deaths in 2015 against 43 in 2011) and at level crossings (1 death in 2015 against 17 in 2011).

(ITALPRESS/MNA).

Source: medNews

The minister of sustainable development and tourism of Montenegro, Branimir Gvozenovic, said that they expect annual revenues exceeding 1.5 billion EUR from tourism by 2026. He reminded that the world trends in tourism represent great potential for Montenegro since it is expected that in the next 15 years the number of tourists increases by 67%. In 2015 revenues from tourism amounted to € 794 million while this year they expect revenues of over 850 million euro. Montenegro in the coming period will support the construction of high category and the increase of 76 hotel accommodation of around 8,000 units.

(ITALPRESS/MNA).

Source: medNews

The Central Bank of Lebanon (BDL) will launch early next year of a 80 million euros credit line (about 89 million dollars) for energy efficiency projects and renewable energy. The credit facility is funded by the European Investment Bank (EIB) and FROM ‘Agence Française de Développement (AFD).

The European Union (EU) will provide technical assistance through a team of international experts and national authorities to support the BDL and the private banks in the definition of the financing plan. The loans will be given in US dollars, even if the received funds are in euro. The credit line will be operational by January 2017.

(ITALPRESS/MNA).

Source: medNews

According to data provided by the Office des Changes, at the end of August 2016 the garment industry in Morocco has been an increase in exports by 8% compared to the first eight months of last year. Moroccan exports of clothing during this period amounted to 15 billion dirhams (nearly 1.4 billion EUR), while the knitwear amounted to 426 million euro, achieving a slight improvement. L ‘Moroccan association of producers (Association Marocaine des Industries du Textile et de l’Habillement) explains this positive trend thanks to the growing progress of the Moroccan garment industry in the markets of subcontracting in the European Union. In a year, Morocco has gone from 7th to 3rd place in the ranking of EU suppliers, preceded by Vietnam and Cambodia, whose respective sales on the European markets were up by 6.8% and 6% .This development is due to a favorable sectoral economic period characterized by the return of the Moroccan textile industry in the sourcing strategies of European buyers. This is thanks to a strengthening of supply and a political stability that favors the country compared to its direct competitors in the Mediterranean basin (Turkey, Tunisia and Egypt). Moreover, the upward trend in costs in Asian countries constitutes an advantage which Morocco can ‘use in order to consolidate its position. For the benefit of the Moroccan clothing production, it is finally considered the industrial trend ‘fast fashion’ which focuses on the geographic proximity and prompt deliveries.

(ITALPRESS/MNA).

Source: medNews

The Minister of Agriculture and Livestock, Faruk Celik said in a TV interview that Turkey will adopt a “new model of agriculture” to elevate the production value of the sector of about 11 billion Turkish liras (3.7 billion dollars). The Ministry will announce shortly how the incentive offered by the new production model, based on the criterion of productive basins.

Celik reported that 41 reservoirs have been identified, and only those who work in the pre-selected products benefit from government support. The Minister added that the ultimate goal is to increase the average size of the fields, in order to increase productivity and profitability.

In predicting the increase of 11 million Turkish lira of annual returns, Celik noted as agricultural production in 2015 exceeded 117 million tons, an increase of 2% over the previous year.

(ITALPRESS/MNA).

Source: medNews