Turkey, Algeria Sign Trade Agreements
Turkey and Algeria have signed a number of agreements on the sidelines of President Recep Tayyip Erdoğan’s two-day visit to the Maghreb country, with the Turkish leader pushing for higher trade goals, Hurriyet reported.
Algeria’s state-owned energy company SONATRACH and Turkey’s Rönesans and Bayegan energy firms have agreed on a $1 billion investment in the petrochemical sector, Erdoğan said on Feb. 27 in Algiers, where he attended a Turkey-Algeria Business Forum.
The forum came one day after Erdoğan met with Algerian Prime Minister Ahmed Ouyahia in the city.
The investment will be made in the Adana Yumurtalık Free Zone, located in Turkey’s Mediterranean province of Adana.
Erdoğan said the plant at the economic zone would produce 450,000 tons of polypropylene per year and that the raw material will be provided by Algeria.
Polypropylene is a thermoplastic polymer, which is used in various sectors such as spare parts used in the automotive industry, packaging of textile and food.
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