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Algerian, Chinese companies create phosphate project joint venture

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World Fertilizer,

The Algerian companies ASMIDAL (a subsidiary of Sonatrach) and MANAL and the Chinese companies WUHUAN and TIAN'AN have signed an agreement for the creation, in partnership, of a joint stock company to initiate preliminary activities relating to the development of a phosphate mining project in Algeria.

The new company, called Algerian Chinese Fertilizers Company (ACFC), is 56% owned by the Algerian party and 44% by the Chinese party.

Representing an investment of approximately US$7 billion, the Integrated Phosphates Project (PPI) is the first integrated project in Algeria in the field of mining and fertilizer production, according to data obtained during the signing ceremony, which took place in Algiers on Tuesday.

It will include the development and exploitation of the phosphate deposit in Bled El Hadba, the chemical transformation of phosphates in Oued Kébérit and the manufacture of fertilizers in Hadjar Soud, as well as dedicated port facilities at the port of Annaba.

After the completion of the project, the company will eventually produce 5.4 million tpy of fertilizer.

The project will enable the creation of approximately 12 000 jobs in the construction phase and in the long term, in the operating phase, approximately 6000 direct jobs and 24 000 indirect jobs.

Read the article online at: https://www.worldfertilizer.com/phosphates/24032022/algerian-chinese-companies-create-phosphate-project-joint-venture/

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