Iran, Algeria agree joint investment in water resources

Business Materials 15 February 2016 16:55 (UTC +04:00)

Baku, Azerbaijan, Feb. 15

By Fatih Karimov - Trend:

Iran and Algeria agreed to make a joint investment in water and wastewater sectors, Hamid Chitchian, Iran's energy minister said.

He made the remarks in a joint press conference with visiting Algerian minister of water resources and environment, Abdelouahab Nouri, Feb. 15, YJC news agency reported.

The two sides will make investments to establish a joint company which will operate in the fields of water resources management, construction of water reservoirs as well as irrigation networks and water and wastewater facilities, Chitchian said.

Nouri's visit to Tehran follows the second meeting of the High Algeria-Iran Joint Commission, co-headed by Abdelmalek Sellal, the Algerian prime minister and Eshagh Jahangiri, the Iranian first vice-president, which took place in Algiers in December 2015 during which an ambitious road map was adopted to promote the exchange and cooperation between the two countries.

Other exchanges and visits are also expected shortly where the Algerian Minister of Industry and Mines Abdesselam Bouchouareb is scheduled to visit Iran in May 2016 at the invitation of his Iranian counterpart, Mohammad Reza Nematzadeh, during which the two parties will discuss the reinforcement of exchange and cooperation in industrial and mining arenas.