Qatar and Algeria have signed an agreement to implement an agricultural project valued at $3.5 billion. The project is focused on feed production, cattle raising, and the production of milk and meat in southern Algeria.
According to the official Algerian News Agency on Friday, the Ministry of Agriculture, Rural Development, and Fisheries stated that the project spans an area of 117,000 hectares. The aim is to produce 50% of the national market's needs for locally-produced powdered milk in pursuit of achieving self-sufficiency, in addition to supplying the local market with red meat.
The agreement was signed on the Algerian side by Souad Assaous, Director General of Investment and Agricultural Real Estate at the Ministry, and Ali Al Ali, Chairman of the Board of Directors of "Baladna Algeria." The signing took place in the presence of officials from the ministry and the Director General of the National Investment Fund.
Additionally, a purchase agreement for the powdered milk produced by the project was also signed between "Baladna Algeria" and the National Office for Milk and its Derivatives.