algeria

OPIC approves a $200 million loan for a desalination project in Algeria

Thursday, 27 January 2005
The board of directors of the Overseas Private Investment Corporation (OPIC) has approved today up to $200 million in financing for a desalination project in Algeria that will supply urgently needed potable water to 25 percent of its capital city’s population.
OPIC will provide a loan to Hamma Water Desalination SpA, sponsored by Ionics Incorporated of Watertown, Massachusetts, for the construction and operation of a reverse osmosis seawater desalination facility that will deliver 200,000 cubic meters of potable water daily to Algiers through a joint venture with the state-owned Algerian Energy Company. The project will establish the first private reverse osmosis potable water desalination plant in Algeria.

IFC extends a $10 million loan to help finance the expansion of Algerian Cement Company

Wednesday, 30 June 2004
The International Finance Corporation (IFC) has announced today a $10 million loan for its own account to help finance the expansion of Algerian Cement Company (ACC), the country's first private cement plant.
IFC supported the construction of ACC, which is located in the central province of M'Sila, 240 km southeast of Algiers, with a loan of $35 million for its own account in 2002.

Ex-Im Bank approves a $192 million loan guarantee to support construction of the Skikda Power Project in Algeria

Friday, 31 December 2003
The Export-Import Bank of the United States (Ex-Im Bank) has approved a $192 million long-term loan guarantee to support construction of the 825-megawatt Skikda Power Project in the Algerian coastal city of Skikda.
SNC Lavalin Constructors -- the Redmond, Washington-based subsidiary of SNC Lavalin Constructors International Inc., a Canadian company -- is exporting General Electric gas-fired turbines and providing engineering services for the project. The borrower is Shariket Kahraba Skikda (SKS), a special-purpose corporation formed, to develop the project, by two Algerian state-owned energy companies, Sonatrach and Sonelgaz, which are providing guarantees to Ex-Im Bank. Societe Generale of New York, N.Y., the lender, received a 12-year guarantee from Ex-Im Bank.

Ex-Im Bank gives preliminary approval of $1 billion credit to support U.S. exports to Sonatrach of Algeria

Monday, 27 October 2003
      The Export-Import Bank of the United States (Ex-Im Bank) has approved a preliminary commitment for a $1 billion line of credit to support the purchase of U.S. equipment and services by Sonatrach, Algeria's state-owned petroleum company.
        Ex-Im Bank's board of directors approved the preliminary commitment to help finance several Sonatrach oil and gas development and optimization projects. Individual credits for projects under the line will be considered separately by Ex-Im Bank's board for final approval after a technical and environmental review of each project.
       Sonatrach is planning a series of large-scale projects to rehabilitate oil and gas fields and expand pipelines as part of its capital expenditure program for the next five years. Sonatrach would be the primary source of repayment under the Ex-Im Bank credit line; its obligations would not be guaranteed by the Algerian government.

IFC extends a $35 Million loan to support the construction, operation of Algerian Cement Company

Tuesday, 26 November 2002
      The International Finance Corporation (IFC), will support the construction and operation of Algerian Cement Company (ACC), Algeria's first private sector cement plant, with up to a $35 million loan.
       The investment in the ACC plant, located in the province of M'Sila in central Algeria, 240 km southeast of Algiers, is estimated to reach $260 million for a total annual cement production capacity of 2 million tons, using locally available raw materials and inexpensive energy sources to produce and distribute cement in the M'Sila and neighboring region.
       Other funding sources for the project will come from the European Investment Bank (EIB) with a foreign currency loan of up to $55 million and Citibank Algeria leading a syndicate of local Algerian banks (Banque de Développement Local, Banque Nationale d'Algérie, Caisse Nationale d'Epargne et de Prévoyance and Crédit Populaire d'Algérie) with local loans equivalent to up to $66 million. The EIB loan will be commercially guaranteed by Citibank International PLC and Eksport Kredit Fonden (EkF), the Danish export credit agency.
       The project's sponsor is Orascom Construction Industries, Egypt's largest private sector construction company, that will invest $104 million in the project. The investment in ACC reflects the sponsor's strategy of regional expansion and will strengthen its position as a key player in the Northern Africa and Mediterranean region.

World Bank approves an $89 million loan to reduce Algeria's urban population's vulnerability to floods, earthquakes

Thursday, 8 August 2002
The World Bank has approved today an $89 million loan to Algeria to reduce the urban population's vulnerability to floods, earthquakes and other natural disasters.
The project will seek to boost the country's ability to respond to and manage situations of natural disasters, introduce long-term preventive measures as well as undertake reconstruction and reforestation to minimize the susceptibility of the urban poor to future disasters.

World Bank extends a $5.5 million loan to Algeria's Mortgage Finance Technical Assistance Project

Thursday, 27 June 2002
The World Bank has extended a $5.5 million loan to Algeria's Mortgage Finance Technical Assistance Project.
This project will help to strengthen the environment for a well-functioning mortgage loan market, by advising the government on legal and administrative reform measures, that would improve property rights, mortgage lien efficiency, and property titling and registration systems. It will also offer strategic assistance to financial institutions and aid in the training of operational staff in mortgage lending.