Algeria News & Events, Latest News for Algeria

Update: Monday, 14 April 2008    

Endeavours to set up a bank- subsidiary for paper producing complex

Finnish experts contribute to the accomplishment of technical tests
Saturday Mar 17 2007.

Executives from Tonic Group for paper production stated that they are to finish the technical tests as regards operating the greatest united complex for paper within a few days, before its official inauguration by next March 25th .

In parallel, huge efforts are being undertaken by the project’s responsibles, after the first project already achieved in partnership with Finnish experts, to open a subsidiary or a bank agency in order to guarantee the direct management as well as to facilitate financial operations especially related to workers’ wage as far as the complex allows the opportunities to employ over 10 thousand workers besides other ones charged of running the previous units.

In the same context, the complex after its inauguration, would guarantee a production that is to reach over 50-60% of Algerian market needs of strengthened and spiral paper, taking into account the complex autonomy through operating a station for water desalination being currently achieved by the American company Ionix, a subsidiary of General Electric.

Among the priorities, the company’s manager is stressing on the complex’s autonomy as concern water and energy supplying, in addition to provide raw materials through paper recycling with a capacity reaching 220 thousand tons yearly.

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