Chinese investments in Algeria have sharply increased over the past few years and the bulk of them are in industrial projects, official Algerian data showed on Wednesday.

Chinese investments are now estimated at nearly $4.5 billion covering 42 projects, showed the figures by the Algerian Investment Promotion Agency (AIPA).

The projects include 22 direct investments by Chinese companies and 20 joint Chinese-Algerian ventures, the report said.

It did not provide details of the investments but Chinese companies have invested heavily in Algeria’s energy sector, vehicles and other industries.

The latest Chinese foray in Algeria was last month, when Great Wall Motors announced its intention to build a car assembly plant in the OPEC country.

AIPA reported last week that it has registered more than 12,800 projects with a value of nearly $43 billion since it was created in late 2022.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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