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Sonatrach & Citic Company Sign $6B Agreement for Building Phosphate Complex

Source: www.gulfoilandgas.com 11/26/2018, Location: Africa

A partnership agreement between the Sonatrach and Asmidal-Manal groups, and the Chinese groups led by the Citic Company to carry out an integrated project for the exploitation and transformation of phosphate and natural gas deposits in the region of Bled El-Hadba was signed in Tebessa, at a ceremony presided over by Prime Minister Ahmed Ouyahia.

The agreement was signed by Sonatrach's CEO, Abdelmoumene Ould Kaddour, and Citic's CEO, Chen xiaoijia, at the gas transfer branch in Oglet Ahmed, 22km from Bir. El Ater, distant 106 km south of the capital of wilaya.

This integrated project of exploitation and transformation of phosphate and natural gas of which the Algerian part holds 51%, against 49% for the Chinese part, is distributed between the deposit of Bled El-Hadba with Tebessa, on 2 045 hectares, the Oued Kebrit platform in Souk Ahras extending over 1,484 ha, Hadjar Essoud in Skikda, on 149 ha and Annaba port on 42 ha, according to the technical sheet this project.

Mobilizing a volume of investment of six (6) billion dollars, the phosphate complex whose implementation is scheduled for 2022, will create 3,000 direct workstations while its construction projects across the four wilayas will ensure 14,000 job positions, according to the same document.

This phosphate complex will provide foreign exchange earnings of $ 1.9 billion / year.

During the signing ceremony, the integrated phosphate mining and processing project was presented. Present at this ceremony, besides the local civil and military authorities of the wilayas involved in this project, the Ministers of the Interior, Local Authorities and Regional Planning, Noureddine Bedoui, Energy, Mustapha Guitouni and Industry and Mines, Youcef Yousfi. (APS).

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

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