SABIC plans $4bn petchem plant in Algeria

09 June 2008 08:36  [Source: ICIS news]

DUBAI (ICIS news)--Saudi Basic Industries Corp (SABIC) plans to build a $4bn petrochemical plant in Algeria, an official source said on Monday.

The company was waiting for the Algerian government to okay the project; the source said but did not provide further information.

SABIC is keen to enter the Algerian market due to the availability of cheap feedstock and had last year submitted a bid to build an ethylene cracker, but France’s Total was approved for the project, the source added.

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By: Abdelghani Henni
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