Qatari-based diversified business conglomerate Power International Holding is exploring a partnership opportunity with Algerian National Oil Company Sonatrach for the development of a petrochemical facility in Algeria.
The facility will produce raw materials such as butene and polybutene.
A delegation from Power International Holding is expected to visit Algeria to discuss the partnership in early September 2023.
Mohammed Arkab, Minister of Energy in Algeria, stated that, “Sonatrach is ready to work with Power International to achieve that project, which is part of Algeria’s strategy to develop the industrial sector.”
Arkab highlighted that the project is in line with Algeria’s new Hydrocarbons Law, which is designed to boost investments in oil and gas exploration, production and processing under efforts to stimulate economic growth and employment creation.
