TOTAL, SONATRACH INVESTMENT $1.4 BLN

PLATTS - Algerian state oil company Sonatrach and French oil company Total have signed an agreement to form a new joint venture, known as Sonatrach Total Company Polymers Company or 'STEP,' for a petrochemical project in Arzew, western Algeria, Sonatrach said in a press release.

The project will include a propane dehydrogenation (PDH) unit and a polypropylene production unit with an output capacity of 550,000 mt/year, the company said.

The PDH unit will consume 650,000 mt/year of propane.

The companies plan to invest around $1.4 billion for the project with Sonatrach and and Total sharing 51% and 49%, respectively.

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