(Finance) – In the context of the Mattei Plan for AfricaItaly takes home a important agreement with Algeriafor the reclamation of a large plot of land and the launch of a project high-tech regenerative agricultureThe contract has been awarded to Ferrarese Reclamationa very old reality, a former public company listed on the stock exchange, which operates to protect the entire agro-industrial supply chain with its technologically advanced techniques.
The Italy-Algeria agreement was signed in Algiers by the respective Ministers of Agriculture, the Italian Francesco Lollobrigida and the Algerian Youcef Cherfain the wake of the bilateral meeting of the President of the Council Georgia Meloniwith the President of the Republic of Algeria Abdelmadjid Tebbouneon the sidelines of the G7 Summit in Borgo Egnazia.
“This agreement – underlines Palazzo Chigi – represents the largest investment in sustainable agriculture done so far by Italy in North Africa, where the Italian Government is engaged in the sector with a wide-ranging action that involves various areas and nations on the southern shore of the Mediterranean”.
The agreement includes a strategic concession by the Algerian government of 36,000 hectaresthat the Bonifiche Ferraresi company will be recovered for agricultural use and creating a whole production chain. The activities will start already in 2024 through the creation of wells and a first sowing of cereals.
Bonifiche Ferraresi is a rather old company, dating back to the last decades of the 19th century, listed on the stock exchange since the post-war period (1947). With its 7,750 hectares, it is the largest Italian agricultural companybut from a traditional operator it has then transformed into a more advanced and innovative reality, capable of offering technologically advanced goods and services to farmers. In 2017, its main shareholder promoted a takeover bid and the BF Group, still listed on the stock exchange, which has started an internationalization process to promote a quality, replicable, scalable and traceable supply chain model and human capital training.
Actions BF this morning the stock market recorded a moderate rise of 0.5% to 4.02 euros per sharecompared to a high reached at 4.05 euros, but the stock had closed last Friday up 2.5% at 4 euros per share, with rather intense trading with over 125 thousand shares changing hands.
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