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The Consortium of 35 multi-specialty Italian enterprises allocated 1.2 billion € to achieve projects in Boutlilis, west of Oran. The Italian Consortium launched its activities in Algeria by buying a hotel to take it as a seat for its activities management. The hotel is to be managed by Mr. Kheireddine Okbi, the former tourism sector executive in Algeria, who is charge of preparing investment project files the Consortium intends to achieve in Algeria. The investments are to be on four hotels, six tourist resorts, a main and pleasure ports, a golf course, thalassotherapy centre, a cinema and a tourism training institute. The consortium will also invest in housing by achieving 250 fancy villas, 270 detached houses, 4060 houses and trade centre on an area of 50 000 m². Moreover, the Consortium has decided to achieve public facilities and tourism structures along the coasts, “Cap Blanc” and “Madagh”, in the commune of Ain Elkerma. As regards housing projects, they will be distributed on the three communes of the Boutlilis. “We managed to have meetings with chief executive officers of Algerian banks, the Italian Group’s representative mentioned. | ||||||||||||||||||
1.2 Billion to materialize a Mediterranean project