As part of the global partnership between the two groups announced in 2017, on 11 May Sonatrach signed an agreement with Total for the development, construction and operation of a propane dehydrogenation and polypropylene production complex in the Arzew Industrial Area, Algeria.
This project, estimated at 1.4 billion dollars, will be borne by a joint company owned by Sonatrach (51%) and Total (49%).
It will turn locally abundant propane into polypropylene, a plastic for which demand is growing exponentially. Production will primarily serve the domestic and Mediterranean market, with Total in charge of marketing the rest of the production to Europe, where the Group will use its knowledge of the market to benefit both partners.
This is the first polypropylene project and the second petrochemical project to take place in Algeria, following the CP 1k that dates back to the 1970s.
Total was assisted by Gide's Algiers office, with a team headed by Samy Laghouati, partner in charge of Gide Algeria.
Gide is a premier international law firm and the first to have originated in France. Founded in Paris in 1920, the firm now operates from 14 offices throughout the world. It has 600 lawyers, drawn from 35 different nationalities. Gide offers some of the most respected specialists in each of the various sectors of national and international finance and business law.
Gide Algiers is a key player in Algerian business life, with our teams involved in all the recent major investment and disinvestment operations in the country. Gide was the first international law firm to open in Algeria. Established in 2003, Gide Algeria - a legal consultancy - has a team of Algerian and foreign specialist legal advisors who combine a thorough knowledge of Algerian law and business practices with acknowledged expertise in all areas of international business law. Gide
Algeria advises mainly international investors on the legal and tax aspects of their activities, in all sectors and in all areas of business law for acquisitions, privatisations, and joint ventures.