BY: Hana Saada
ALGIERS- The Industrial Group of Paper and Cellulose (GIPEC), a subsidiary of the Algerian Chemical Specialities (ACS) Holding, specializing in the production of various types of paper and cardboard, has entered into a partnership agreement with MinYyang Paper, a leading Chinese company in the manufacturing of raw materials for paper and cardboard. This collaboration aims to revitalize the production plant in the Saïda province for corrugated paper.
The revival of this facility is expected to reduce the annual import bill for this material by 85%, which is estimated at $220 million.
The agreement was signed by the CEO of GIPEC, Mohamed Djedi, and his Chinese counterpart, represented by the Business Development Department, Chung Yuambang.
The signing took place during a meeting chaired by Samir Yahyaoui, CEO of the Holding, at the Saïda province headquarters, with the presence of all parties involved in revitalizing the economic activity of the unit. This initiative is in line with the instructions of the Minister of Industry and Pharmaceutical Production, Ali Aoun, given during his working visit to the Saïda province on April 27. The instructions were focused on accelerating the economic recovery of struggling companies and units, aiming to create 370 jobs, generate wealth, and contribute to the economic development of the country.
According to a statement from GIPEC, this agreement follows “a call for national and international expressions of interest to revive the PAPCAS Complex in partnership with a globally renowned partner equipped with state-of-the-art technology.” The call received responses from a group of Algerian and foreign industrialists.
Following the agreement signing, the CEO of the Holding commended the efforts of the head of GIPEC and the team for successfully completing the project. This included the establishment of a paper and cardboard recovery center by Papirec and the revival of the SACAE unit, which had been inactive for some time.
The Chinese party expressed great interest in expeditiously implementing the project due to its significance and the expected benefits for MingYang Paper.
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