Saudi and Algerian authorities recently signed an agreement to establish a joint company for investment, reported SPA.
The agreement was signed by Saudi Arabia Minister of Finance Ibrahim Al-Assaf and his Algerian counterpart Abdullatif bin Shinho.
According to Al-Assaf, both the Saudi and Algerian governments will contribute one quarter of the new company's $110 million capital. The other half of the capital will be contributed by the private sector, the new agency reported. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
