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Sonatrach & Baker Hughes Will Build $45M Algeria Plant

Source: Reuters 11/9/2017, Location: Africa

State energy company Sonatrach and Baker Hughes, part of GE (BHGE), will set up a joint venture and build an oil equipment plant in Algeria at a cost of $45 million under a deal signed, Sonatrach said.

Algeria’s Sonatrach will hold a 51 percent stake and BHGE the remaining 49 percent in the project which will be based in Azrew in western Algeria, it said in a statement.

The site is due to start production in December 2019.

“With Sonatrach, we are able to establish a strong manufacturing hub that will increase local capacity and boost exports,” BHGE CEO Lorenzo Simonelli said in the statement.

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