ALGIERS, Nov. 26 -- Algeria and China on Monday signed cooperation documents for the implementation of a mega integrated project worth 6 billion U.S. dollars for the exploitation of phosphate in the eastern region of Algeria.
The deals were signed by CEO of Algerian energy giant Sonatrach Abdelmoumen Ould Kaddour and Chairman of CITIC Construction Chen Xiaojia in province of Tebessa in east Algeria.
The ceremony was attended by Prime Minister Ahmed Ouyahia and his cabinet officials, in addition to prefects of four eastern provinces involved in the project.
The two parties are due to meet again in December to sign the shareholder pact for the establishment of the consortium group, as a final step that precedes the start of the construction stage of the project due early 2019. The production phase is planned for 2022.
The project will be realized in partnership between CITIC Construction and three Algerian groups, namely Sonatrach, Asmidal and Manal.
Ouyahia hailed the project as "the largest industry project in the last decade in Algeria, as it marks the beginning of a real partnership between Algeria and China."
Chen said that "the project reflects a profound wisdom of Algeria in terms of serving its people, and we are proud to be selected to contribute in this process."
For his part, Kedour said that "the sharp fall of oil prices forced Algeria to adopt a new strategy that is based on diversifying its oil-dependent economy, and this mega phosphate project is in big step toward reinforcing this strategy."
"This is not the project of Sonatrach or CITIC; it is rather a federating project that will reinforce our partnership," he added.
It will enable Algeria to increase its phosphate output to 10 million tons a year, thus becoming the third largest phosphate reserves in the world.
China's share in this mega project is estimated at 49 percent, while the Algerian party will hold the majority share of 51 percent, in accordance with investment law of the North African country.
This integrated phosphate project is spread through four main places, namely El Hadaba mine in the easternmost province of Tebessa with an investment budget worth 1.2 billion dollars, "Sulphur Stone" area in the easternmost province of Souk Ahras with an investment worth 2.2 billion dollars, "the Black Stone" area in the north-eastern province of Skikda with an investment worth 2.5 billion dollars, and the extension of the port of the northeastern province of Annaba with an investment worth 200 million dollars.
The project will include the duplication of the railway connecting the production site to the port of Annaba, and connecting the sites with industrial water, gas and power.
In its construction stage, the project is due to generate more than 14,600 direct jobs.
Algeria aims through this project to be able to export annually fertilizer quantities worth 2 billion dollars, and gradually manage to increase its phosphate and natural gas reserves through the establishment of structured transformation and wealth-generating industry, which would pave the way for Algeria to become the third largest exporters of fertilizer in the world.
体坛英语资讯:Beijing Guoan crown CSL half-season champions after beating Hebei China Fortune 6-3
国际英语资讯:British chancellor of the exchequer promises to deliver budget measures regardless of Brexit
体坛英语资讯:Crystal Palace sign German midfielder Meyer
体坛英语资讯:Senegal to host 2022 Youth Olympic Games
体坛英语资讯:PyeongChang 2018 announces surplus of at least 55 million US dollars
特朗普指责主流媒体煽动社会愤怒
体坛英语资讯:Defending 1o de Agosto beat Interclube 2-0 to lead Angola Championship
国内英语资讯:Another 261 Chinese tourists trapped in Saipan return to Beijing
冰淇淋健康吗?
巴西极右翼候选人赢得总统选举
国内英语资讯:China opens consulate general in southern Philippine city of Davao to enhance relations
40岁以上的男人就别说这些话了
国内英语资讯:China Focus: Rescuers go all out following bus plunge in Chongqing
国内英语资讯:China braces for 16th typhoon of the year
体坛英语资讯:Sindhu and Marin to play final at worlds, Shi to take on Momota
国际英语资讯:S. African president embarks on mission to woo investment
起早床好难,如何成功起早床?
大多数美国人若参加公民考试将无法通过
国际英语资讯:Japan, India to enhance defense, economic cooperation
体坛英语资讯:Jurgen Klopp: No fan for UEFA Nations League
在这家意大利餐厅,社交媒体粉丝够多可以免单
体坛英语资讯:Stalemate at Anfield, Mou fights back at Old Trafford and Chelsea cruise to victory
据说,早上起床后空腹喝水有7个好处
国际英语资讯:Sri Lankan president urges legislators to join new government amidst political crisis
首位华人!王嘉尔拿下2018青少年选择奖
娱乐英语资讯:Disneys remake of Chinese woman warriors saga starts production
体坛英语资讯:Partizan defeat Zenit in EuroCup Basketball
科普小知识 味精对人的身体并没有害处
土耳其货币暴跌,没想到zara却捡了个大便宜!
国内英语资讯:Chinas underwater robot sets depth record
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |