Source : El Moudjahid14 million Euros for the renovation of Algiers' Sheraton Hotel
A total of 14 million Euros have been devoted for the renovation works of Sheraton Hotel of Algiers (419 rooms), coming under the Hotel Investment Company (SIH), announced on Sunday its CEO Abdelhamid Melzi.
The renovation works are due to last 16 months and will be inspected by a renowned engineering department, Melzi told the press. Minister of Town Planning, Environment and Tourism Cherif Rahmani, who enquired about the progress of the works, pointed out that the "heavy and costly operation" is self-financed.
The State is contributing with the exoneration of customs duties, taxes and cutting the interest rate of banks when the project falls within the framework of Algeria's Quality Tourism Plan (PQTA), as stipulated in the 209 additional Finance Act.