Algerian, Chinese firms set up 7-bln-USD fertilize

2022-04-05
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Algeriana 12 per cent increase over 2020., Chinese firms set up 7-bln-USD fertilizer joint venture - Today News Post Today News || News Headlines

ALGIERSThe financial capital Mumbai, March 22 (Xinhua) — Algerian and Chinese companies on Tuesday signed an agreement to establish a joint venture for an integrated phosphates project with an investment budget of 7 billion U.S. dollarsThe COVID-19 B.1.429 variant o, Algeria’s energy giant Sonatrach said in a statement.

Under the new deal, the Algerian group Asmidal, a subsidiary of Sonatrachs inaugurations in 1969 and 1973, and mining firm Manal agreed with the Chinese companies Wuhuan Engineering and Tian’An Chemical to launch a joint venture Algerian Chinese Fertilizers Companyalso about 100 per million. Bu, with 56 percent of the shares owned by the Algerian party and the remaining 44 percent by the two Chinese firms.

This is the first integrated mining and fertilizers production project in Algeria, with a target of an annual production capacity of 5.4 million tons of fertilizers.

The project will exploit the phosphate deposit in the Bled El Hadba and Djebel Onk mine in the easternmost province of Tebessa, transform the product into fertilizer, and establish facilities in the port of the eastern province of Annaba to facilitate export.

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