Algeria awards methanol contract worth $1bn

17 July 2007 00:53  [Source: ICIS news]

HOUSTON (ICIS news)--Algeria has awarded a contract worth $1bn (€ 730m) to build a 1m tonne/year methanol plant to local and foreign firms, according to an unconfirmed report on the Reuters news wire on Monday.

Citing local officials, the report said the Almet consortium with Mitsui of Japan, Qurain of Kuwait, Lurgi of Germany and other companies from Algeria and Trinidad won the contract.

The consortium will represent 51% of the venture with state-run Sonatrach taking the remainder, the report said.

Algeria has awarded two of six planned petrochemical contracts for projects estimated to be worth some $12bn, the report said.

($1.00 = €0.73)

By: John Waggoner
+1 713 525 2653

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