Algiers – The Ministry of Industry and Pharmaceutical Production is set to finalize the recovery of assets confiscated in corruption cases by the end of 2024, according to a statement made on Monday by a senior official from the ministry.
Jamal Ghadeer, Deputy Director of Corporate and Industrial Governance at the Ministry of Industry and Pharmaceutical Production, explained in an interview with Algerian radio that all processes related to the recovery of confiscated assets are expected to be completed by the end of this year, resulting in the final resolution of these cases.
Providing an overview of the operation, Ghadeer revealed that between 2022 and 2024, a total of 108 assets and properties seized in corruption cases were transferred to public economic enterprises across various sectors, including industry, pharmaceutical production, tourism, energy, mining, and public works.
In 2022, 31 assets were transferred, including 15 companies, eight production units, five real estate development projects, two shopping centers, and a business center. In 2024, 77 assets were transferred in two phases, with 51 assets in the first phase and 26 in the second.
The industry sector alone received eight assets in 2022 and 34 in 2024, covering various industrial fields such as construction materials, food industries, mechanics, and steel. These included both halted and ongoing projects, according to Ghadeer.
Among the confiscated units, Ghadeer mentioned the Adrar Cement Complex and several brick factories that were transferred to the Algerian Cement Industrial Group (GICA), while food industry units were transferred to the Agrodive Group. Additionally, several mechanical industry companies were handed over to the Metals and Steel Industries Group (IMETAL).
Crude Oil Production Complex to Begin Operations in November
The transferred units also include several key industrial projects, such as the seed crushing and animal feed complex in Jijel, which is set to start production in November. This complex will produce crude oil for cooking oil manufacturing and animal feed.
Other significant projects include a sugar production complex in Boumerdes, focused on refining all types of sugar, and a steel pipe manufacturing company in Oran, which is expected to begin production in the coming days, according to the official.
Regarding the economic value of these assets, Ghadeer noted that the process is ongoing, with all relevant sectors working to assess the value of these projects, particularly as new assets are added to the portfolio of public economic enterprises in the coming days.
The preliminary assessment of the first batch of confiscated assets in 2024, comprising 23 industrial units with over 3,500 workers, estimates their economic value at 37 billion DZD, with the evaluation process still ongoing.
Instructions have been given to various conglomerates in different sectors to complete ongoing projects, restart halted ones, and fully utilize the capabilities of operational assets, Ghadeer added.
Regarding the situation of workers employed at the confiscated companies, Ghadeer assured that they would be fully integrated into public economic enterprises.
In response to a question about stalled investment projects, Ghadeer explained that an intersectoral committee overseen by the Ministry of Industry and Pharmaceutical Production managed to lift obstacles for over 1,200 economic projects, including a pharmaceutical production center in Mostaganem for ophthalmology and veterinary medicine, and a complex in Constantine for the production of raw materials used in insulin manufacturing.
As part of the effort to rehabilitate the affected economic institutions, exceptional measures were introduced to support these enterprises by providing operational and production loans in 2024. Ghadeer mentioned that the ministry held a working meeting on Sunday, during which directives were issued to public industrial conglomerates to take all necessary steps to bring the units into service as soon as possible and to develop strategic growth plans.
