The Saudi minister of commerce and investment Majid bin Abdullah al-Qasabi said on a visit this week to Algiers, Algeria, SABIC and Algeria’s state energy group Sonatrach are about to sign a memorandum of understanding (MOU) to implement petrochemical projects in a joint venture (JV) partnership. The MOU will cover three projects, according to Qasabi. He spoke after a meeting in Algiers with Algeria’s energy minister, Noureddine Bouterfa. "We noted promising investment opportunities in petrochemistry in Algeria. Both countries have significant gross wealth that encourages partnership, and this is what we seek currently,” Qasabi says. He adds Algeria is positioned with access to African and European markets.
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