Indorama invests in Algeria?s phosphate mine, processing plants
Wednesday, July 20 2016 - 03:24 AM WIB
Indonesia?s Indorama Group is investing in Algeria to develop phosphate mine and processing facilities, Koran Tempo reported on Wednesday.
The paper quoted Indorama?s owner Sri Prakash Lohia as saying that the company is teaming up with Algeria?s state-owned firms Asmidal and Manal to invest a combined US$4.5 billion in three projects.
He said that the companies will develop a phosphate mine and processing plant to produce phosphate acid and diammonium phosphate.
The joint venture will also process natural gas into technical ammonium nitrate and calcium ammonium nitrate.
Lohia said the projects are targeted to be completed in 2019. He added that phosphate production after 2019 is targeted to increase to 10 million tons from the current 1 million tons per year. (*)