Total: launches study for project in Algeria
(CercleFinance.com) - Today, Total announces that it has signed an agreement with Sonatrach to kick off engineering studies for a petrochemicals complex in Arzew, in eastern Algeria.
This petrochemicals project comprises a propane dehydrogenation (PDH) plant and a polypropylene (PP) production unit, with a capacity of 550,000 tonnes per year.
It represents an investment of approximately 1.4 billion dollars for the two partners (Sontrach 51% - Total 49%), which plan to kick off the engineering study this summer, pending approval from the Algerian competent authorities.
“This Algerian project forms part of our petchems growth strategy, which entails developing our activity based on raw materials with a competitive edge, especially those coming from gas, to be able to take advantage of the growth in global demand for plastics”, indicates Total's CEO Patrick Pouyanné.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
This petrochemicals project comprises a propane dehydrogenation (PDH) plant and a polypropylene (PP) production unit, with a capacity of 550,000 tonnes per year.
It represents an investment of approximately 1.4 billion dollars for the two partners (Sontrach 51% - Total 49%), which plan to kick off the engineering study this summer, pending approval from the Algerian competent authorities.
“This Algerian project forms part of our petchems growth strategy, which entails developing our activity based on raw materials with a competitive edge, especially those coming from gas, to be able to take advantage of the growth in global demand for plastics”, indicates Total's CEO Patrick Pouyanné.
Copyright (c) 2018 CercleFinance.com. All rights reserved.