Algeria’s NAFTEC plans $4bn upgrade at refineries

19 May 2008 04:42  [Source: ICIS news]

DUBAI (ICIS news)--Algerian National Oil Refining Company (NAFTEC) plans to invest $4bn (€2.6bn) in upgrading and rehabilitating its refineries at Skikda in east Algeria, Algiers, Oran and Arzew in western Algeria, Akli Rimini, the chief executive of the company said on Sunday.

This expansion programme would allow Algeria to increase its refining capacity to 27m tonnes/year in 2012 from the present 22m tonnes/year, he added

One refinery that would produce 3.5m tonnes/year of naphtha would go on stream in the first quarter of 2009, and would supply the petrochemical industry, Rimini said.

Another $5bn refinery project at Tiaret province in western Algiers, which was expected to go on stream in 2014, would be the biggest in the country and would have a capacity of 15m tonnes/year, he added.

($1 = €0.64)

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By: Abdelghani Henni
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