Algerian state-run energy giant Sonatrach on Wednesday signed a 3.7-billion-U.S.-dollar deal for the construction of an oil refinery, state-run radio channel III reported.
Inked with a consortium of Spain's Tecnicas Reunidas and Republic of Korea's Samsung Engineering, the contract envisages the completion of a refinery with a total capacity of 5 million tons per year in the gas-rich area of Hassi Messaoud in the Algerian Desert.
The project should be delivered in March 2026.
Sonatrach put the oil refiney project out to tender in 2017, in which seven companies submitted bids and only four were eligible to compete for the contract.
Algeria imports 12.23 million tons of diesel and 9 million tons of gasoline, while only 11.5 million tons of fuels are refined locally.
Editor:Cherie
