2024-08-19 18:01:56
ALGIERS – The Ministry of Industry and Pharmaceutical Production intends to complete by the end of 2024 the process of recovering property confiscated by final court decisions in anti-corruption cases, an official of the ministry said on Monday.
“All the procedures for the recovery of the confiscated property will be completed by the end of this year with the final resolution of the case,” the deputy director for economic and industrial corporate governance at the Ministry of Foreign Affairs told Algerian Radio for Industry and Pharmaceutical Production, Djamal Ghedir.
Regarding the results of the operation, the official reported that in 2022 and 2024, a total of 108 assets and properties seized in anti-corruption cases were transferred for the benefit of public economic companies in different sectors, including pharmaceuticals, industry and production, tourism, energy and mining, and public works.
In 2022, the transfers involved fifteen (15) companies, eight (8) production units, five (5) real estate development projects, two (2) shopping centers and one (1) commercial center, totaling 31 items and assets, he detailed.
He added that in 2024, 51 seized assets were first transferred, and then another 26 assets were transferred, for a total of 77 assets.
Mr. Ghedir explained that the industrial sector alone will benefit from the transfer of eight assets in 2022 and 34 assets in 2024, covering various industrial sectors, including building materials, agro-industry, machinery and steel. He pointed out that some projects are at a standstill and others are ongoing.
Among the confiscated units, he listed a cement plant and several brick factories in Adrar, whose ownership was transferred to the Algerian Cement Industry Group (GICA), agro-food industry units, whose ownership was transferred to the Public Agro-Industry Group (AGRODIV) and several companies in the machinery sector, whose ownership was transferred to the Metallurgical and Steel Industry Group (IMetal).
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The transferred units include several structural projects in the industrial sector, including the oilseed crushing complex in Jijel governorate, which will be operational by November next year for the production of crude oil for making edible oil and livestock feed.
In addition to these, there is the project of a sugar complex in the province of Boumerdes and a steel pipe factory in the province of Oran, where actual production is planned to begin “in the coming days,” according to the manager.
Regarding the economic value of the properties, he confirmed that “operations are ongoing and all relevant departments are in the process of determining the value of these projects, especially in the coming days, when new properties will enter the portfolio of public economic enterprises”.
However, an assessment of the first batch of assets seized in 2024, namely 23 industrial units with more than 3,500 workers, showed an economic value of DKK 37 billion before the operation was finally completed.
“Directions have been issued to different groups across multiple departments to complete ongoing projects, restart stalled projects and tap the potential of ongoing projects,” the official added.
Regarding the situation of workers of companies whose properties were confiscated by final court judgment as part of the fight against corruption, Mr. Gedir assured that they will be taken care of and integrated into economic listed companies.
Responding to questions about pending investment projects, the official said that a multi-sectoral committee supervised by the Ministry of Industry and Pharmaceutical Production has cleared obstacles for more than 1,200 economic projects, including a center for the production of pharmaceuticals for ophthalmology and veterinary medicines in Mostaganem province and a production complex of raw materials for the production of insulin in Constantine province.
He noted that as part of the recovery of the economic enterprises concerned, special support measures have been decided, in particular the issuance of operating and production credits in 2024, adding that at a working meeting held on Sunday by the ministry, guidelines were drawn up to provide information to public industrial groups so that all measures are taken to go into operation as soon as possible and develop a development strategy.
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