Algerian oil group Sonatrach to create its own bank
Sonatrach's headquarters.
Algerian Energy and Mines Minister, Chakib khellil Saturday announced that the giant group Sonatrach is working on the creation of its bank to auto finance the future projects, including water desalination, petrochemical facilities and exploration.
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Chakib Khellil declared that the “Fourth Energy Week” due to take place in Algeria between 15-19 November under the slogan” The new energy world: Challenges and opportunities” will be a real opportunity for Sonatrach and Sonelgaz to benefit from the know how of universities and experts from 30 countries representing more than 200 companies across the world.
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For his part, the group’s CEO , Mohammed Meziane said that his company is know working on penetrating new activities in other sectors domestically and at the international level through the creation of branches abroad .