06 November 2016, Algiers — The National oil company Sonatrach and Chinese Group China Petroleum Engineering and Construction (CPECC) on Sunday in Algiers have signed a contract worth DZD45 billion (i.e. over $410 million) for the restoration of Sidi R’zine Refinery in Baraki (Algiers).
The agreement was inked by the head of Sonatrach refinery segment Tahar Cherif Zerrar, and General Manager of CPECC Algeria, Liu Chun Lin, in the presence of Energy Minister Noureddine Boutarfa, CEO of Sonatrach, Amine Mazouzi, as well as Chinese ambassador to Algiers Yang Guangyu.
The Algiers Refinery, once rehabilitated after 21 month period will help increase by 35% the plant refining capacities.
*Algerie Presse Service
