APS : Monday, 18 July 2016
ALGIERS – Three investment agreements worth US$4.5 billion have been inked Monday here between the National Public Companies and Indonesian industrial group.
These agreements on joint-ventures were signed by CEO of Group Asmidal Miloud Louhichi and CEO of Manal Messaoud Houfani while the Indonesian side was represented by CEO Group Indorama Corporation, Sri Prakach Lohia.
Under these deals, three Algerian-Indonesian joint projects will be achieved on the development and the exploitation of the new phosphate mine of Bled EL Hadba (Tebessa), on the transformation of phosphate for the production of phosphoric acid and diammonium phosphate in Souk Ahras and in the transformation of natural gas for the production of ammonia, technical-grade ammonium nitrate (TNA) and calcium ammonium nitrate (CAN) in the city of Skikda.
The signing ceremony was attended by Minister of Industry and Mines Abdessalem Bouchouareb, and Indonesian Ambassador to Algiers Safira Machrusah.
The output from these industrial platforms will cover the needs of the agricultural sector in different fertilizers and will allow exporting surplus.
Through these investments, it will ensure the transformation of five million tons of merchant phosphate into phosphate fertilizers and the production of one million tons of ammonia and 800,000 tons of calcium ammonium nitrate, explained the minister during this signing ceremony, considering them as “the most important non-hydrocarbon agreements (of investment) since independence.”
These projects will create nearly 16,000 jobs; 12,000 in construction phase and 4,000 in operating phase.
