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Government has dedicated 600 million dinars in compensation to these workers who have not been dismissed as some of whom have been put out to pasture, and others have voluntarily retired, says the same source explaining that those who opted for early retirement have benefited of a 15-month wage indemnity. A reduction plan has been drawn following financial troubles CNAN’s subsidiaries witnessed leading government to announce privatization of these branches. The same source says the Algerian Navigation Company managed to sell six ships up to now, the rest is to be used by two CNAN’s subsidiaries, namely CNAN Nour, using four ships, and CNAN Maghreb, two ships. Eight other ships will be put at the disposal of a navigation joint company, created by CNAN (51%; of which 2% for an Algerian investor) and Feraoun Saudi company. Three CNAN’s subsidiaries, namely CNAN Nour, CNAN Mediterranean and the new Algerian-Saudi company are opened for privatization, Gestmar trust company will have to consider their case as from next week. A number of the CNAN’s ships are also to be sold. Following a tender call, French group Gofast-Aigle Azur got CNAN Nour and the Italian Dario Perello obtained CNAN Mediterranean. Privatization process in relation to Algerian Navigation Company’s subsidiaries started in September 2006. | ||||||||||||||||||
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Government devotes 600 million dinars in compensation