Chinese Group “Asia Potash” Presents a $1.6 Billion Investment in Algeria
The Director General of the Algerian Investment Promotion Agency (AGEI), Omar Rekkache, received here on Thursday, September 25, a delegation from the Chinese company Asia Potach, which specialises in the exploitation and transformation of mineral resources, particularly phosphate, at the agency’s headquarters.
The delegation was headed by the company’s Vice President, Zheng Yuye. According to the agency, this meeting comes as part of the Chinese company’s efforts to launch a major investment project in Algeria. This project involves establishing a $1.6 billion integrated industrial complex to process phosphate and produce ammonia, urea, and compound fertilisers, using natural gas as the primary resource in the manufacturing process.
During the meeting, the possibilities and opportunities for implementing the project in Algeria were discussed. Algeria possesses all the necessary advantages and capabilities, including natural gas and phosphate mines, particularly in the east of the country. The meeting also discussed its economic feasibility and its compatibility with the national strategy for developing and valorising mining resources and renewable energy.
It was agreed to continue coordination and organise further meetings to discuss the technical details of the project and the mechanisms for its implementation, in coordination with the relevant sectors.