Port Company of Arzew, Turkish group "Tosyaly" to create joint venture
APS : Tuesday, 28 June 2016
ORAN- An Algerian-Turkish joint venture has been created by virtue of a agreement signed Tuesday in Bethioua (Oran) between the Port Company of Arzew (EPA) and the Turkish steel company “Tosyaly.”
Named “SPA Bethioua Port Mineralier,” the joint venture whose share capital is DZD2 billion will, as from September, start the construction works of installations and equipment of loading and unloading dock works.
The joint venture provides for the setting up of a transfer system, a 12.5 km- escort ship, iron ores, scrap iron and other finished and semi-finished products between the port of Bethioua and the steel complex of “Tosyaly,” based in Bethioua, as well as the other operators of the zone of activity of Bethioua, said the officials of the two sides during their presentation of the project.
The project is budgeted at DZD6 billion (US$60 million).
The new joint venture was created according to the rule 51/49, where 51% are held by EPA and 49% by “Tosyaly.”
Once completed, these new installations will be able to process about six million of raw materials per year and an unloading capacity of 50,000 tonnes per day, added the officials, underlining that the project will be completed in 12 months and will create 80 direct jobs.
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