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An Italian company will build a chemicals plant in Algeria at a cost of around $1.05 billion under an agreement signed with state-owned Sonatrach on Thursday.
In a statement published on Friday, Sonatrach said the plant in the Northeastern Mediterranean Port of Skikda would produce 100,000 tonnes per year of Linear Alkyl Benzene Sulfonic Acid (LABSA), a key ingredient for the detergent industries.
The project will be completed within 44 months and commissioned in December 2027, the statement said, adding that 35 percent of costs would be funded by Sonatrach and the rest by Algeria’s Central Bank.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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