ALGERIA: Algiers down but not out
When Algiers first invited companies to express interest in its programme to build a raft of world-scale petrochemicals facilities in January 2005, it looked set to take the industry by storm. An estimated $15,000 million programme was put together for six greenfield petrochemicals facilities at the hydrocarbons export hubs of Skikda and Arzew, and a fuel oil catalytic cracker at Skikda. Interested foreign companies were invited to take a majority equity stake in their development.
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