This Sunday morning, a contract for the completion of a petrochemical complex in Arzew and its financing agreement were signed between the company with shares of STEP Polymers Spa (a 100% subsidiary of Sonatrach) and JV Petrofac-HQC.
The signing ceremony took place at the Sonatrach headquarters and in the presence of the Minister of Energy and Mines, Mohamed Arkab, and the President and General Manager of Sonatrach, Toufic Hakkar. It is made of polypropylene, and the completion period was set at 42 months. This contract was awarded on May 14, after limited international consultation, in accordance with the procedures for awarding deals in force in the company. STEP Polymers Spa
According to a statement by Sonatrach, the production of polypropylene from this future compound will be allocated to meet the needs of the national market, while the surplus production will be directed for export towards European, Asian and African markets. Indirect job position. The project will also adopt the rules and standards applied at the national and international levels in the field of environmental protection, with the implementation of an extensive program for planting trees and vegetation at the level of Oran Province.
The second signing relates to a financing agreement between the company with shares of STEP Polymers Spa and the National Bank of Algeria (BNA) as a main supervisor.
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