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(adsbygoogle = window.adsbygoogle || []).push({}); Rail infrastructure: Creation of Algerian-Chinese joint-venture - Algeria latest news

ALGIERS- The National Company of Railway Construction (Infrafer) and China Railway Construction Corporation (CRCC) on Monday in Algiers signed an agreement on the creation of a joint venture specialized in the construction of the railway tracks.

The agreement on this joint-venture has been signed on the margins of the International Exhibition of Transport, Logistics and Mobility "Algeria Infrastructure 2016" by the CEO of Infrafer Slimane Bouchama, and Vice General Director of CRCC International Wei Waizheng, in the presence of Transport Minister Boudjemaa Talai.

The future Algerian-Chinese Joint Venture, which is expected to be created within 6 months, will be mainly specializing in the laying of high-speed rail tracks, a niche in which Infrafer is lacking experience, Bouchama told APS following the agreement signing.

"After the construction of classic rail tracks, Infrafer will, through this partnership embark on the new niche of high-speed tracks," he explained.

The Agreement also provides for the creation of a plant for the manufacturing of parts for the electrification of rail tracks and the signaling and telecommunication systems.

Conducting railway studies in the desert and the major projects and tunnels are also among the objectives of this partnership, said Bouchama.

"Following the signing of this agreement, we need the approval of the State Stake-holding Council (EPC) to finalize the pact of shareholders and secure the capital of the company, whose effective creation is expected in six months," said the CEO of Infrafer.

Chinese ambassador to Algeria Yang Guangyu said that this agreement will "further materialize the two countries’ efforts to move forward towards a genuine industrial partnership."

"The Chinese companies have the experience and technology in the construction of rail infrastructure and are ready to share them with their Algerian partners," concluded Guangyu.

Tag(s) : #Economy

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