Algeria’s Sonatrach has signed a $ 520 million contract with China’s CNTIC/LPEC to build a plant to produce methyl tert-butyl ether, which is used in the manufacture of unleaded fuel.
According to a statement released by the Algerian company today, Thursday, “Mr. Mohamed Arkab, Minister of Energy and Mines, oversaw the signing ceremony of a contract for the production of a compound for the production of methyl tert-butyl ether (MTBE), used as an additive for the manufacture of unleaded fuel… in the presence of the Director General of Sonatrach and the Director General of the National Bank of Algeria.
Arkab stressed that this project, funded by the National Bank of Algeria to the limit of 70%, is part of the enhancement of the natural resources abundant in Algeria in general and of hydrocarbons in particular, as a major axis in economic plan. reactivation approved by the Algerian government at the beginning of the year 2020.
The minister pointed out that among the goals pursued in the medium term is to shift more than 50% of primary production compared to the current 32%, create 4,000 additional direct jobs and raise the value of exports to 5 billion dollars. . , compared to the current $ 1.2 billion, an increase of 500% from the current value.
Arkab also stressed that the project will contribute to product strengthening at the CP1Z plant by using it as raw material for MTBE production, developing Algerian skills in this field, creating opportunities in the work and promotion of national governance.
The cost of the project is 520 million dollars and it is scheduled to be carried out over a period of time until 2025.
Source: agencies
Source: Arabic RT
