TURKEY: Turkey, Algeria sign agreement to build polypropylene plant in Adana

Turkey and Algeria have signed a number of agreements on the sidelines of Turkish President Recep Tayyip Erdoğan’s two-day visit to the Maghreb country, with the Turkish leader pushing for higher trade goals.

Algeria’s state-owned energy company SONATRACH and Turkey’s Rönesans and Bayegan energy firms have agreed on a USD 1 billion investment in the petrochemical sector, Erdoğan said on 27 Feb. 2018 in Algiers, where he attended a Turkey-Algeria Business Forum.

The forum came one day after Erdoğan met with Algerian Prime Minister Ahmed Ouyahia in the city.

The investment will be made in the Adana Yumurtalık Free Zone, located in Turkey’s Mediterranean province of Adana.

Erdoğan said the plant at the economic zone would produce 450,000 t/y of polypropylene and that the raw material will be provided by Algeria.

Once the plant becomes operational, Turkey will surpass issues in its current account deficit and external dependence on foreign petrochemicals will also be reduced by 25 %, he added.

Source: “Hurriyet Daily News”, Ankara; 27 Feb 2018
(Syed Rashid Ali, Karachi, Pakistan)