Sonatrach signed, on Friday, a contract with France’s Total for the completion of a petrochemical complex in the industrial zone of Arziew (Western Algeria) with a financial value of $1.5 billion, equivalent to about DZD 20.000 million to cover Algeria’s needs of plastics and propane gas and export part of the plant’s production to Europe, Africa and Turkey.
The contract was signed at the headquarters of the national oil company Sonatrach in Algiers between the General Manager, Abdelmoumen Ould Kaddour and the CEO of the French Total, Patrick Pouyannée.
According to Ould Kaddour, the project is the second of its kind for Algeria in the field of petrochemicals, after the Skikda project.
“The plant’s products will be marketed by Total for at least 5 years, given that there are pre-existing customers at Total. The project will provide more than 6,000 jobs during the completion phase, and it will create during its works 600 direct jobs.
According to Sonatrach officials, this project will reduce the import bill of this necessary material for many industrial sectors, by about $ 100 million annually, which is the value of imports in 2017, with a quantity of 178.000 tons.
In a press conference following the signing, Sonatrach’s General Manager confirmed that the time for the sale of crude oil and gas alone has ended, and the company has embarked on the development of industry and petrochemicals and its added value to the country’s economy.