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June 30, 2025 | 2 months ago
GiCA Group recovers a new unit: The revitalisation of seized companies continues
The revitalisation of companies seized by the courts, a large proportion of which have been transferred to the assets of public companies, continues.
Yesterday, the Minister of Industry, who was on a working visit to the wilaya of Tiaret, oversaw the official signing ceremony for the concession of a recovered industrial asset to the state-owned Gica group, which specialises in the manufacture of building materials. The brickworks of Sarl BTP Boumerdès, located in the commune of Frenda, were the subject of restitution procedures within the framework of confiscated assets, to be redirected towards public investment and real production as part of the industrial sector strategy. Sarl BTP Boumerdès specialises in construction.
This event, which took place in the presence of the Wali of Tiaret, puts into practice the instructions of the President of the Republic, who has ordered the relaunching of seized companies and the taking charge of their personnel, as well as their recovery if the company's activities are resumed.
In this way, the confiscated assets will be put to good use by being invested in concrete productive projects, thereby reinforcing local development and helping to support national industry.
Sifi Ghrieb, who remains committed to implementing the presidential directive on seized assets, recently attended the inauguration of the Larbaâtache sugar refinery, which had been transferred to the portfolio of the Madar Group (Tafadis), just as he had supervised, a few days earlier, the signing of a partnership agreement between the Chinese carmaker Jetour and the state-owned Imetal company, which had recovered the Batna Glovis (Kia) car plant.
As a reminder, in August 2024, 23 industrial production units belonging to businessmen convicted of corruption, money laundering, illicit transfers abroad, overbilling and election campaign financing were transferred to three major state-owned groups. In addition to the Madar group, which took over the Larbaâtache sugar refinery, the Gica group, which specialises in cement and its derivatives, took over four brickworks in the wilayas of Batna, Mascara, Médéa and Tiaret. The Imetal group, which oversees the steel segment of the industry, took over Casteel, Gtrans, Kia Motors and Glovis.
Last May, the Director General of Domaines revealed that "we have transferred 139 industrial units seized by the courts to public companies". Abderrahmane Kheddi recalled the instruction of the President of the Republic to give priority, as far as these units were concerned, to public companies wishing to acquire them, to ensure their revitalisation while preserving the workforce, and on condition that activities were relaunched as quickly as possible". During an appearance on Channel 1, he took the opportunity to express his satisfaction at the fact that many of these companies had resumed their activities, while others were in the process of doing so, giving the examples of Gica and Anabib in Mostaganem.
June 30, 2025 | 
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