New integrated phosphate project – Algerian dialogue

The President and General Manager of the Sonatrach complex, Taoufik Hakkar, paid a working visit to the People’s Republic of China, during the period from 15 to 18 May 2023, accompanied by a delegation from the executives of the complex and the Asmedal company, one of Sonatrach’s subsidiaries, as well as the Algerian mining complex.

The visit falls within the framework of the development of the integrated phosphate project, which is supervised by the Algerian-Chinese Fertilizer Company ACFC, which was established on March 22, 2022 between the Algerian complexes Asmedal and the Algerian mines and the two Chinese companies “Wuhuan” and “Tian An”, which aims to exploit the phosphate mine in the country. Al-Hadba in the region of Jebel El Ank, the state of Tebessa, and the chemical conversion of phosphate and natural gas and the manufacture of phosphate and nitrogen fertilizers and chemicals in Oued Sulfur, the state of Souk Ahras.

This visit included meetings with officials of the company CNCEC, the exclusive owner of the “Wuhuan” company, specialized in the chemical and fertilizer industries. Fertilizer conversion.

The two parties also discussed ways to finance the merged project, as meetings were scheduled with a group of banks interested in financing the project and investment and export loan insurance institutions that showed initial willingness to contribute to financing the completion of this strategic project.

In the end, this visit was an opportunity for the CEO to hold meetings with companies with which Sonatrach has partnership and cooperation relations, including CNPC, operating in Algeria through its subsidiaries HQC and KunLun Digital, Huawei and Powerchina, through which they discussed investment opportunities and joint cooperation. In the field of hydrocarbons, new and renewable energies, digital transition, and new technologies used in the field of hydrocarbon exploration and production.