HomeNewsPetrofac confirms signing of US$1.5 billion EPC contract in Algeria

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Petrofac confirms signing of US$1.5 billion EPC contract in Algeria

6/12/2023

Petrofac -- Press Release    Further to the announcement of 18 May 2023, Petrofac today confirms it has entered into a definitive agreement with STEP Polymers SPA (‘STEP’, a 100% subsidiary of Sonatrach) for the design and build of its petrochemical complex in the Arzew Industrial Zone in Algeria. As previously announced, Petrofac will deliver the US$1.5 billion project with its joint venture partner China Huanqiu Contracting & Engineering Corporation (HQC), with Petrofac’s share valued at over US$1 billion. The contract was signed at an official ceremony in Algiers by representatives of Petrofac, HQC and STEP. Tareq Kawash, Petrofac’s Group Chief Executive, said: “I am delighte

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