Spain’s King Juan Carlos inaugurated Tuesday Tarragone Propylene plant, a joint venture between Algeria's Sonatrach corporation and the German Chemical group "BASF", in the presence of an Algerian delegation led by Energy and Mining Minister Chakib Khelil, Spanish representatives and managers from the German group.
The new plant has a production capacity of 350,000 tons per year of propylene by dehydrogenation of Algerian propane.
The unit, called "Propane S.A Terragone" is 49 % owned by Sonatrach and 51% by BASF. The agreement which stipulates the construction and exploitation of a propylene production unit, was signed in November 1999 while the construction commenced in September 2000.
The plant's capital is estimated at €86 Million. This project is intended to "materialize the internationalization policy of investments carried out by Sonatrach group abroad," the Algerian Energy Ministry said in a statement.
© 2004 Mena Report (www.menareport.com)
