Algiers To Implement Majority Rule

Algeria plans to renegotiate energy projects being undertaken with foreign partners to make sure that the state has a majority share. According to a statement by energy minister Chakib Khelil reported by state media, the action is necessary in order for projects to comply with the country's new investment law that was introduced in August and limits foreign stakes in all projects to 49%. The news is likely to affect projects, particularly in the petrochemicals sector, that have not yet received final authorisation.

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