Algeria has signed a $6bn joint venture deal with a Chinese consortium to expand a phosphate plant in the country's eastern Tebessa province. The agreement between Algerian state-run company Sonatrach, domestic firms Manal and Asmidal and Chinese state-owned El-Hadba is to expand output of the Bled CITIC Group mine from one million metric tonnes (mt) to 10 million mt a year, making it the largest economic project the country has seen in over a decade. Sonatrach will retain a 51% share in the project, which is scheduled to come online in 2022.
Algeria has signed a $6bn joint venture deal with a Chinese consortium to expand a phosphate plant in the country's eastern Tebessa province. The agreement between Algerian state-run company Sonatrach, domestic firms Manal and Asmidal and Chinese state-owned CITIC Group is to expand output of the Bled El-Hadba mine from one million metric tonnes (mt) to 10 million mt a year, making it the largest economic project the country has seen in over a decade. Sonatrach will retain a 51% share in the project, which is scheduled to come online in 2022.