Petroleum Africa
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Monday, March 28, 2022
The Algerian groups ASMIDAL (a subsidiary of Sonatrach) signed a Shareholders’ Pact for the of a joint-stock company under Algerian law to begin preliminary activities relating to the development of the integrated phosphates project (PPI). The partner companies are Wuhuan and Tian’an and the new JV company, Algerian Chinese Fertilizers Company, or ACFC, will be held 56% by the Algerian party and 44% by the Chinese partners.
Representing an investment of approximately $7 billion, the PPI is the first integrated project in Algeria in the field of mining and fertilizer production. It will include the development and exploitation of the phosphate deposit of Bled El Hadba, Djebel Onk, wilaya of Tebessa, the chemical transformation of phosphates in Oued Kébérit, wilaya of SOUK AHRAS, the manufacture of fertilizers in Hadjar Soud, wilaya of Skikda, as well as dedicated port facilities at the port of Annaba.
After the completion of the project, the company will eventually produce 5.4 million tons of fertilizer per year.
The project will induce considerable socio-economic growth in the eastern region of the country, in particular through the creation of approximately 12,000 jobs in the construction phase and, ultimately, in the operating phase, approximately 6,000 direct jobs and 24,000 indirect jobs.
The selection of the two Chinese partners results from an open call for expressions of interest launched by the Algerian side in May 2021.
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