Middle East Economic Survey

VOL. L

No 13

26-Mar-2007

ALGERIA

Egypts Orascom And Sonatrach Form Fertilizer Company

Egypts Orascom Construction Industries (OCI) and Sonatrach on 19 March formed Sorfert Algeria, a joint venture designed to build and develop a greenfield ammonia/urea plant near Arzew at a cost of $746mn. They also formed Sorfert Marketing, which will manage sales of production in Algeria and abroad. OCI will hold 51% of both joint ventures and Sonatrach 49%. The two companies signed...