Total signs $ 3 billion contract
The French oil group Total said on Tuesday it has signed a $3 billion petrochemicals project contract with Algerian gas giant Sonatrach.
By Agencies |
PARIS: The French oil group Total said on Tuesday it has signed a $3 billion (2.18-billion-euro) petrochemicals project contract with Algerian gas giant Sonatrach.
The plant, based at Arzew in eastern Algeria, will be used for a process of breaking down ethane under high temperatures and weak pressure, to make ethylene and other derivatives for the national and international markets, it said.
Total will finance 51 percent of the project and Sonatrach 49 percent, it said.
The plant will make polyethylene, mono-ethylene, glycol, di-ethylene glycol and tri-ethylene from the methane extracted at the plant, Sonatrach said
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