Algeria to invest $28bn on petchem programme

25 February 2008 15:46  [Source: ICIS news]

DUBAI (ICIS news)--Algeria is planning an investment of $28bn in the country’s petrochemicals industry over the next five years, Energy Minister Chakib Khelil said on Monday.  

The investment would see developments located on the country’s east and west coasts, he added.

Total and Almet had won contracts to build and operate ethane and methanol plants as part of the project.

Almet is a consortium of Germany's Lurgi, Japan's Mitsui & Company, Kuwait's Al-Qurain Petrochemical Company and the local Sotraco.

Meanwhile, Saudi Basic Industries Corp was interested in investment opportunities in Algeria, as it wanted to take advantage of the low cost of feedstock there and its proximity to Europe, said executive director Mohamed al-Mady, at the Jeddah Economic Forum in Saudi Arabia.  

By: Abdelghani Henni
65 6780 4359

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

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.

Printer Friendly