(Ecofin Agency) – In June 2024, Sonatrach took control of Fertial following the conclusion of an agreement with its partner Grupo Villar Mir (GVM), marking the amicable settlement of a dispute between the two companies since years.
Sonatrach, the public company responsible for hydrocarbons in Algeria, formalized on Wednesday January 8 its commitment to supporting food security through the development of a fertilizer and chemical industry in the country.
It was Rachid Hachichi (photo), the group’s CEO, who made the information official during a visit to the facilities of Fertial, a local company specializing in the production of fertilizers and chemicals that Sonatrach controls 100%. since June 2024.
The installation based in Annaba in the north of the country should serve as a lever to realize this commitment. Sonatrach plans to undertake rehabilitation work there to increase the production capacity of fertilizers and ammonia.
This work will notably concern the main ammonia synthesis unit. This upgrade will allow Sonatrach to strengthen the production of this chemical compound, essential for the production of fertilizers and, ultimately, for Algerian agriculture.
According to Hachichi, Fertial is strategic “for the strengthening of food security in Algeria, the development of a pioneering industry of fertilizers and chemicals” which will meet national fertilizer needs. The CEO of Sonatrach, however, did not comment on the amount of investments that will be made by the company to achieve this objective.
-Abdel-Latif Boureima
Edited by Wilfried ASSOGBA
Read also:
06/18/2024 – Algeria: Sonatrach takes control of Fertial in the downstream petrochemical sector
12/25/2023 – Algeria: Sonatrach plans to invest $50 billion in the hydrocarbon sector between 2024 and 2028
