Algeria News & Events, Latest News for Algeria

Update: Saturday, 15 May 2010    

Partnership to be operational late June

Two bids for privatization of a CNAN’s subsidiary
Sunday May 28 2006.

The opening of financial letters that were concerned with the sell of the branch Maghrab Line which is affiliated to the national company for maritime navigation led to two principle options

The first one was French company Ighil Azur and the second was Trans Mediterranean company that presented offers considered by the administration as good, but the final decision of the state participations council is yet to be taken. Its studies will be done by the evaluation committee in the current days and would be sent to the state participations council.

Ighil Azur suggests the participation in the company capital with 51% with the commitment to run investments through the renewal of the maritime ships in a period that doesn’t go beyond 5 years, which is the period for the programme that was agreed on by all parties, while the second party suggests the participation with 49% in the capital with the commitment of investment. The administration refused to declare the figures that were advanced by the two parties until the official announcement of the winner.

The state participations council is expected to study the two offers, so the lack of too many offers will allow the decision to be taken very fast, according to the confirmation of a responsible in the company. It is expected that the realisation of the programme would start in the beginning of June, while the study of other branches will be done in the coming days.

N. Bouchaala — El-Khabar

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