November 25th, 2015 – Italferr, company of the Italian FS Group, and ANESRIF, agency of the government of Algeria, have signed an agreement for the creation of a new company under Algerian law specializing in railway engineering. The deal divides shares as such: 51% to ANESRIF and 49% to Italferr. Italferr CEO Matteo Triglia and the Director of ANESRIF Azzedine Fridi were present at the signing ceremony, which took place during the Salon International des Travaux Publics (SITP) of Algiers. The agreement represents a key milestone in the process of establishing a new company, according to the MoU signed in June. The goal is to create a joint stock company with a registered capital of €2 million, which will develop in the short and medium terms works for about €50 million (designs, construction supervision, training and technical assistance) on behalf of ANESRIF. The governance model for the new company was completed in record time, in favor of Italferr, reflecting the confidence of the Algerian partner for the Italian company. The operational start-up is scheduled for early 2016, as soon ANESRIF and Italferr complete the approval process with their shareholders. “The new company – explains a statement – will be able to operate on the Algerian territory with extreme efficiency and flexibility, representing a prestigious center for engineering manufacturing and training in the entire Maghreb and francophone Africa”. (Red)
