ALGERIA: To set up US$900m textile and clothing cluster
The Société de Gestion des Participations Industries Manufacturières (SGP-IM), an Algerian state holding company which has stakes in numerous businesses including those specialising in garments, leather and footwear production, has signed a deal with Turkish group Taypa to build a textiles-clothing industry cluster in the North African country.
Total investment in the project is estimated at between US$800m and $900m and could lead to the creation of more than 10,000 jobs.
To be located in Relizane, around 300km west of Algiers, the multi-phase project is seen as a major element in re-launching Algeria's flagging clothing industry.
It makes provision for the construction of eight textile and garment-making plants, a business centre, training facility and a residential area for personnel, according to Algeria's Ministry of Industry, Small and Medium Enterprise (SME) and Investment Promotion.
The public-private joint venture company to run the complex will be set up at the end of next month, the preliminary step before construction begins.
The projected combined output of some of the plants in the cluster is forecast at 60m metres of fabric annually, 60% of which will be exported. Jeans manufacture is also planned, with an output of 30m pairs destined for the local market.
Annual turnover at the cluster is expected to total almost $647m at the end an initial five-year period.
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