One billion dollars, value of Egypt's investments in Algeria

Egyptian Ambassador to Algeria Abdul Moneim Saudi asserted early in the week on the strong relations binding Egypt and Algeria in various fields of activities.

Volume of Egyptian investments in Algeria has soared up to over $ 1 billion invested in the fields of communications, iron and steel, contracting, pharmaceuticals and air conditioners.

On top comes a $ 600 million project totally financed by the Algerian Ministry of Finance and implemented by the Egyptian Arab Contracting Company, besides establishing 1500 housing units and 500-kilometer electrical cables.

Saudi pointed out that the volume of Egyptian exports to Algeria rose from zero in 1999 to $ 70 million this year.