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Saudi Development Fund finances Algerian project
Algeria-Saudi Arabia, Economics, 1/19/1999
The Saudi Development Fund agreed to grant Algeria a loan worth $22 million to finance an electricity station in Algeria. A press statement released by the fund said the station's capacity is 425 megawatts, and it will serve central Algeria, replacing a station that works on natural gas whose availability is about to finish.
The project will allow the Algerian gas and electricity company to increase its production capacity in the capital.
Previous Stories:
Saudi Arabia lends Algeria $22 million
(1/8/1999)
Shortage in Algerian budget amounts to 173 billion dinars
(1/6/1999)
Algeria, EU to send humanitarian aid to Iraq
(12/22/1998)
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