Algeria to get joint venture ammonia plant
Algerian fertilizer company Asmidal, the German firm Fritzwerder, and US-based Transammonia Inc. on Wednesday said they have signed an agreement to set up a joint-venture ammonia plant. According to an official statement, the plant�to be built at Arzew, 450 km west of Algiers�is expected to produce about 1,850 tonnes/day of ammonia.
ALGIERS�Algerian fertilizer company Asmidal, the German firm Fritzwerder, and US-based Transammonia Inc. on Wednesday said they have signed an agreement to set up a joint-venture ammonia plant. According to an official statement, the plant�to be built at Arzew, 450 km west of Algiers�is expected to produce about 1,850 tonnes/day of ammonia.
The plant, scheduled to be operative within 3 years, would create 120 jobs.
Under the terms of the agreement, the joint venture would have $100 million dollars in capital�50% controlled by Asmidal and the other half by its partners. Total investments for the project are estimated at $350 million.
Equity in the project may be opened to Algerian state oil company Sonatrach and other foreign firms. Twenty international companies reportedly showed interest in participating in the project.
