Algiers (AFP) - Algeria and an Indonesian group Monday signed three accords to invest $4.5 billion in phosphate mining, as the North African state aims to consolidate its position in the industry, officials said.
The industry and mining ministry said the deals were signed by Algerian public companies Asmidal and Manal and Indonesia's Indorama Corporation.
"The strategic aim of this partnership is to transform five million tonnes of phosphates into phosphate-based fertilisers and to produce one million tonnes of ammonium and 800,000 tonnes of calcium ammonium nitrate," Mining Minister Abdesselam Bouchouareb said in a statement.
He said Algeria aims to become the third largest phosphate producer in Africa, after Morocco and Tunisia.
The deals signed on Monday will cover the fertiliser needs of Algerian agriculture and allow for excess production to be exported, said Bouchouareb.
Akufo-Addo commissions Phase II of Kaleo solar power plant
NDC panics over Bawumia’s visit to Pope Francis
EC blasts Mahama over “false” claims on recruitment of Returning Officers
Lands Minister gives ultimatum to Future Global Resources to revamp Prestea/Bogo...
Wa Naa appeals to Akufo-Addo to audit state lands in Wa
Prof Opoku-Agyemang misunderstood Bawumia’s ‘driver mate’ analogy – Miracles Abo...
EU confident Ghana will not sign Anti-LGBTQI Bill
Suspend implementation of Planting for Food and Jobs for 2024 - Stakeholders
Tema West Municipal Assembly gets Ghana's First Female Aircraft Marshaller as ne...
Dumsor is affecting us double, release timetable – Disability Federation to ECG
