Tehran, Algiers to Establish 4 Joint Energy Firms

Tehran, Algiers to Establish 4 Joint Energy FirmsTehran, Algiers to Establish 4 Joint Energy Firms

Tehran and Algiers are set to establish four joint firms to boost water cooperation, Energy Minister Hamid Chitchian announced on Monday.

“The four companies will be engaged in water research, dam construction, irrigation networks, wastewater management and equipment manufacture,” Chitchian was quoted as saying by Shana.  

Iran is the world’s third leading country in dam construction, with some 200 contracting companies, 70 consultant firms and 30 corporations as well as hundreds of hydroelectric manufacturing units implementing projects in 40 countries.

Over the past three decades, it has built 600 dams, an average of 20 a year, to irrigate farms and provide electricity.

Chitchian, who was speaking on the sidelines of a meeting with Algeria’s Minister of Water Resources and Environment Abdelwahab Nouri, also said that the new companies will start joint activities with the private sector on organizing water resources and conducting studies in the sector.

The Iranian minister noted that the two countries have set up five joint technical committees, adding that the committees are due to hold meetings as per a timetable.

"The two ministries have prepared the ground for holding joint water management training courses in both countries," he said.

Nouri said the North African country is determined to boost bilateral relations with Iran and expressed optimism that the soon-to-be-established companies can help both countries reach their shared goals.

The Algerian minister also met Iran’s First Vice President Es’haq Jahangiri on the same day, during which he referred to chaos in the Middle East and “incorrect policies” of some countries, noting that these polices have contributed to the oil price decline.

Jahangiri stressed that cooperation between Iran and Algeria in countering the “conspiracy” of lowering oil price, adding that the two countries must manage to run the country without depending on oil revenues and Iran can provide Algeria with its experience in this regard.

On the third day of his visit to Iran, Nouri visited dams and power plants in Khuzestan and Chaharmahal-Bakhtiari provinces.

Bilateral trade between Iran and Algeria amounted to a meager $7 million in 2014, of which 97% were contributed by Algerian imports.

Algeria is the 10th largest country and the largest in Africa and the Arab world.

The North African country supplies a large amount of natural gas to Europe and energy exports are the backbone of its economy.

Algeria has the17th largest oil reserves in the world and the second largest in Africa, while it has the 9th largest reserves of natural gas.