Algeria Investing Massive $28 Billion for Petrochemical

Algeria is planning an investment of $28bn in the country’s petrochemicals industry over the next five years with developments located on the country’s east and west coasts.

The investment include recent contracts to build ethane and methanol plants by Almet, a consortium set-up for the projects by Lurgi, Japan's Mitsui & Company, Kuwait's Al-Qurain Petrochemical Company and the local Sotraco.

Algeria is attractive to foreign investors due to low cost of feedstock there and its proximity to Europe.

Algeria to Start Ammonia Plant

Fertiberia, a Spanish fertilizer producer is in the midst of selecting a contractor to build an ammonia plant in Algeria with a capacity to produce 1.2m tonnes/year of ammonia with due completion in 2011. Fertiberia has already entered Algeria market with collaboration with Fertial, an Algerian ammonia producer with 650,000 tonnes per annum of ammonia at Annaba and Arzew. The facility will utilised Sonatrach gas as a supply feedstock to the plant.