ALGERIA, CHINA SIGN 410 MILLION USD CONTRACT FOR RESTORATION WORK ON OIL REFINERY
ALGIERS, -- The Algerian national oil company, Sonatrach, and China Petroleum Engineering and Construction (CPECC) have have signed a contract worth 45 billion dinars (about 410 million US dollars) for the restoration of the Sidi R'cine Refinery in Baraki in Algiers.
The agreement was signed here Sunday inked by the head of Sonatrach's refinery diivision, Tahar Cherif Zerrar, and the General Manager of CPECC Algeria, Liu Chun Lin, in the presence of Energy Minister Noureddine Boutarfa, Sonatrach chief executive officer (CEO) Amine Mazouzi, and Chinese Ambassador to Algeria Yang Guangyu.
The Algiers refinery, once rehabilitated after a 21-month period, will help increase its refining capacity by 35 per cent.
Source: Nam News Network