Sonatrach Signs Billion-Dollar Contract with Italian Company for Petrochemical Complex
BY: Dr. Hana Saada
ALGIERS- Sonatrach, the Algerian state-owned oil and gas company, announced on Thursday the signing of a significant contract with the Italian company Tecnimont.Spa for the construction of a petrochemical complex in Skikda. The complex will produce a crucial raw material used in the manufacturing of detergents and industrial cleaners.
The contract entails the engineering, procurement, and construction (EPC) of Linear Alkyl Benzene (LAB) production facilities. It was awarded to Tecnimont.Spa following a competitive bidding process and was signed by Sonatrach’s Central Engineering Director, Mahdi Sellami, and Maire Tecnimont’s CEO, Alessandro Berinini.
The project aims to produce 100,000 tons of LAB annually, catering to the domestic demand for this product, which is currently imported. Any surplus production will be earmarked for export. The construction timeline for the complex is set at 44 months, with a total investment of $1.05 billion, of which 32% will be in Algerian dinars (DA).
Sonatrach highlighted that the project will enhance the value of kerosene and benzene, raw materials sourced from the Skikda refinery, essential for LAB production. Additionally, the petrochemical complex will contribute to the expansion of the detergent industry and generate employment opportunities for Algerian workers.
In support of the project financing, Sonatrach and the National Bank of Algeria (BNA) signed a financing agreement covering 65% of the EPC contract value. The agreement was signed by Sonatrach’s Vice President of Finance, Djamel Attallah, and BNA’s Acting CEO, Dine Benabdi.
The collaboration between Sonatrach and Tecnimont.Spa represents a significant step towards boosting Algeria’s domestic petrochemical industry and reducing reliance on imports. It underscores the government’s commitment to promoting local industrial development and creating job opportunities in the country.
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