Algeria to buy 16 planes and 25 ships

Algeria’s Council of State participation (CPE) has earmarked a request by the ministry of transport to buy 16 new planes for national airline Air Algerie and 25 ships for the National Corporation for Maritime Transport. According to Algerian media, one average a single ship will cost about $30 million. That means Algeria will pay not more than $750 million while its freight-related annual losses have been estimated at about $5 billion since 2002. The move comes after the National Corporation for Maritime Transport was on the verge of bankruptcy and hired foreign ships for freight. Earlier, Algeria had announced that it allocated $700 million to buy 11 civil aircrafts.