Turkey and Algeria will jointly establish a petrochemicals plant in Adana on the Mediterranean coast, Algerian Energy Minister Mohammed Arkab told state-run Anadolu Agency.
Turkey’s Rönesans Holding and Algeria’s state-owned energy company Sonatrach will take part in the project, Arkab said on the margins of the Turkey-Algeria Business Forum.
The petrochemical facility is estimated to cost around $1.4 billion, according to the Algerian minister, who also said stakes of Rönesans Holding and Sonatrach in the project will be 66 percent and 34 percent, respectively.
The facility is planned in Seyhan industrial zone for petrochemical development and will have production capacity of 450,000 tons per year of polypropylene.
The construction of the plant will be completed in two years and the facility is expected to become operational in July 2022, Arkab said. Sonatarch will supply the planned plant with 540,000 tons per year of propane that will be used to produce polypropylene, he added.