UPDATE 1-Dubai's DP World in deal to run 2 Algerian ports

(Updates with company statement)

DUBAI, Nov 10 (Reuters) - Dubai operator DP World DPW.DI said it signed agreements with Algeria on Monday to run the ports of Algiers and Djendjen.

Under the deals with two Algerian port authorities, DP World will invest an initial 84 million euros ($108.3 million) over three to four years and commit to further develop and expand the ports where a 50-50 joint venture will hold a 30-year concession, the company said in a statement.

The daily Emirates Business earlier cited an Algerian embassy official as saying that DP World would invest a total $850 million, the bulk of which would go towards modernising the port of Algiers, which handles nearly half the country's port activity. (Reporting by Firouz Sedarat and Daliah Merzaban; Editing by David Cowell)