05 February 2008 09:00 [Source: ICIS news]
The first $1.5bn loan from Credit Populaire Algerienne would part fund a $2.1bn facility in Arzew (about 400km from ?xml:namespace>
The plant would consist of an ammonia/urea production unit with a capacity of 1.1m tonnes/year and a second ammonia production unit with a capacity of 770,000 tonnes/year, the source said, adding it would be completed by 2010.
The second loan of $1.8bn would be guaranteed by Bank Exterieur Algerien and help part fund Sonatrach’s joint venture with
Its capacity would run to 4,000 tonnes/day of ammonia and 7,000 tonnes/day of urea, the source added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|