Algeria doesn’t intend to compensate Egyptian companies, says Mehleb

The Algerian government will not compensate Egyptian companies that were negatively affected by riots in Algeria, according to Ibrahim Mehleb, head of Egyptian-Algerian business council. The riots took place last November, following a football match between the two countries.

Mehleb told Al-Masry Al-Youm that the interests of Arab Contractors company were affected at the time, but the company itself wasn’t damaged.

Mehleb, who is also the Arab Contractors chairman of the board, said he will visit Algeria before the beginning of August to inspect the company’s work sites there. He will also meet with the Egyptian Ambassador to discuss the Algerian stance towards the joint business council between the two countries. Currently, the Egyptian delegation is two years old, whereas the Algerian one is not yet formed.

“I feel optimistic this time, especially after the president’s visit to Algeria to offer condolences to his Algerian counterpart Abdelaziz Bouteflika on the death of his brother,” said Mehleb. He and the ambassador will also discuss the Egyptian companies’ stances on new measures imposed by the Algerian government, and following up on these companies’ business.

Al-Masry Al-Youm reported last December that Egyptian companies’ financial losses in Algeria were estimated at LE2 billion. These losses were incurred by Orascom and the Arab Contractors companies, as well as a number of Egyptian restaurants, stores, and natural gas and petroleum companies.

Translated from the Arabic Edition.

Related Articles

Back to top button