Orascom Construction to build $1.8 billion fertiliser plant in Algeria
Orascom Construction Industries in co-operation with Algeria's state-owned oil and gas company Sonatrach will set up a $1.8 billion fertiliser plant on the Mediterranean coast of Algeria, press reports on Monday (June 25th) quoted a statement of the company as saying. According to company CEO Nassef Sawiris, the plant’s location in Algeria will position it perfectly to serve the European market, and the east coast of the US would only be six days away by ship. High gas prices, the booming global demand for agricultural products and the burgeoning demand for biofuel, have resulted in a booming market for fertiliser around the world.
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