ECONOMY

Naval industry: around sixty projects to be launched as of second half of 2021

ALGIERS- About sixty projects in the field of shipbuilding and repair are planned to be launched as of the second half of 2021, Minister of Fisheries and Fisheries Productions, Sid Ahmed Ferroukhi announced Tuesday in Algiers.

The minister was speaking during a meeting organized jointly with Minister of Industry, Mohamed Bacha, on the support of project managers in the field of construction, renovation and maintenance of fishing boats.

60 investment projects from public and private operators have been registered on the digital platform, said the minister.

"Our mission is to help these operators to position themselves in the activity of the naval industry, in particular in its segments devoted to the development of the national shipbuilding and repair industry and the promotion of offshore fishing activities, granting financial and administrative facilities which allow them to be operational as from the second half of 2021, "he said.

In this context, the Minister affirmed that the Ministry of Industry is elaborating an industrial strategy, based on the principles of the valuation of local resources and the development of the industrial fabric.

"This is a large integrated project that will benefit both naval industry operators as well as to subcontractors," he said, stressing that his sector will put the necessary conditions to achieve these projects "as soon as possible".

The managers of these projects have the possibility to partner with foreign operators to benefit from technological transfer and know-how.