✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 14th, 2024 — On Thursday, Minister of Energy and Mines Mohamed Arkab highlighted the significant economic benefits of Sonatrach’s complete acquisition of the Fertial company, particularly for the petrochemical sector. This announcement came during a plenary session at the People’s National Assembly dedicated to addressing oral questions.
Sonatrach, through its subsidiary Asmidal, has acquired full ownership of Fertial, a company specializing in fertilizer production. This move follows the transfer of shares from the Spanish Grupo Villar Mir (GVM) to Asmidal. Previously, Asmidal held a 51% stake in Fertial, while GVM owned the remaining 49%. Minister Arkab emphasized that this acquisition would play a crucial role in developing the petrochemical industry, a vital component of Algeria’s national economy. The integration of Fertial into Sonatrach’s operations is expected to boost the production of petrochemical products, especially fertilizers, which are in high demand.
The acquisition also signifies the resolution of a prolonged international arbitration dispute between GVM and Sonatrach. This development not only strengthens Sonatrach’s position in the market but also ensures stability and growth within the industry. Responding to a query regarding the potential revival of Asmidal’s detergent and chemical production unit, which was dissolved in October 2011, Arkab confirmed that this move aligns with Sonatrach’s current strategic goals. He underscored the importance of incorporating this unit into Asmidal to produce value-added petrochemical materials, including fertilizers, to meet the growing market demand.
Moreover, Arkab discussed a special plan to prevent power outages in coastal provinces. This plan, to be implemented by Sonelgaz, includes the deployment of special equipment and will initially focus on provinces such as Tipasa. This initiative is part of a broader program aimed at ensuring a reliable power supply across the region.
The full acquisition of Fertial by Sonatrach is a strategic move designed to bolster the petrochemical sector, which is crucial for Algeria’s economic diversification efforts. As the country aims to reduce its reliance on hydrocarbon revenues, developing a robust petrochemical industry becomes essential. The increased production of fertilizers and other petrochemical products will not only satisfy domestic needs but also enhance Algeria’s export potential.
Minister Arkab’s announcement underscores the government’s commitment to leveraging Sonatrach’s capabilities to drive economic growth and industrial development. The integration of Fertial into Sonatrach’s portfolio is a significant step towards achieving these objectives. Furthermore, the focus on ensuring a stable power supply in coastal areas demonstrates the government’s holistic approach to addressing infrastructural challenges and supporting industrial activities.
With these strategic initiatives, Algeria is poised to strengthen its position in the global petrochemical market, attract investment, and create new opportunities for economic development.
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Fertial: Spanish Villar Mir Transfers Full Ownership to Asmidal
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