Sonatrach, Turkish Rönesans to invest $1.2 billion in petrochemical plant
November 30, 2018 | Algeria, Budget & Investment, Petrochemicals
London, UK| – Turkish conglomerate Ronesans Holding and Algeria’s Sonatrach have announced they will invest $1.2 billion to build a petrochemical facility in southern Turkey. In a press conference in Istanbul on Nov. 28, the companies said that the facility would be built in the Ceyhan industrial zone in Adana in a bid to produce polypropylene; a product on which Turkey is highly dependent on imports. Industry and Technology Minister Mustafa Varank said that the facility would produce 450,000 tons of polypropylene annually when it becomes fully operational in 2023; more …