Egypt’s energy investments safe, says Algeria

The Algerian energy minister confirmed that energy projects implemented in collaboration between Algerian fuel company Sonatrach and its Egyptian counterparts operating in Algeria are still under way, despite the recent crisis sparked by the World Cup qualifying match.

Shukib Khalil, Algerian energy minister, delivered a statement through state television in which he said that the Egyptian companies are still committed to continuing the projects they were contracted to execute, and added that the companies’ directors will be contacted in order to further bind them to their commitments.

Khalil said that discussions will be held with the officials of companies involved in partnerships with Sonatrach in order to find the best way to counter delay caused by the departure of Egyptian labor from Algeria. A number of Egyptians working in the Algerian branches of Orascom, Sewedy Cables, and Arab Contractors had left the country due to fears of falling victim to violence in the wake of the match in Khartoum.

Meanwhile, a senior official announced that the petroleum minister, Sameh Fahmy, will meet his Algerian counterpart next Friday to discuss future joint investments. The discussion will be held on the margin of the meeting of the Organization of Arab Petroleum Exporting Countries, scheduled to take place this Saturday in Cairo.

Petrojet is one of the leading Egyptian petroleum companies operating in Algeria. Two months ago it signed a US$1 billion contract with Italian ENI’s Saipem company to install a gas pipeline in Algeria on behalf of Sonatrach.

Meanwhile, the plastic industry division at the Egyptian Federation of Industries decided to cancel a second exhibition of Egyptian plastic products scheduled for next January, as it objected to the behavior of Algerian fans post the football match in Sudan. A spokesman for the division in question said that the head of the division, Hamed Moussa, had traveled to Sudan to attend the match and was himself an eyewitness to incidents of violence. The source, who wished to remain anonymous, said that the division is thinking of transferring a permanent exhibition, originally planned for Algeria, to Cameroun or Senegal, and that a final decision on the issue will be reached within few days.

Translated from the Arabic Edition.

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