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FINANCIAL NEWS
Algeria starts building USD3b oil refinery
16 Sep 2012
(MENAFN) Algerian minister of energy, Yusuf Yusufi, stated that the country has started setting up the USD3 billion oil refinery in the Baskara area, southern Algiers, reported Kuwait News Agency (KUNA).
Yusufi said that the refinery will have an annual output capacity of 5 million tons.
He added that 600 permanent jobs are expected to be created due to the project, in addition to other jobs.
It is worth noting that the refinery will produce 500,000 tons of benzine, 220,000 tons of Liquefied Petroleum Gas (LPG) and 169,000 tons of kerosene.
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