Algeria: Sonelgaz to invest $3.3 billion in 2010
1 September 2010
The Sonelgaz Group is going to invest 3.3 billion Dollars in Algeria in 2010, according to President and General Director Mr. Nourredine Boutarfa, at a press conference on 28 August last.
“Sonelgaz is going to press ahead with the investments necessary to meet the increase in demand and the upgrading of the network”, he declared, as reported in the daily Tribune.
Between now and 2020, the Group is in fact planning to invest 8.4 billion Dollars in a number of gas and electricity distribution projects.
The aim for Sonelgaz is to develop the network, in order to be able to support electricity consumption which is steadily on the increase. According to Mr. Boutarfa, this growth is due to the change in the consumption behaviour of Algerian households, which nowadays have access to air-conditioning.
As well as this, on 26 August the Algerian Minster of Energy and Mines, Mr. Yousfi, met the Niger Ambassador Mr. Sangaré and the Indian Ambassador, Mr. Bhardwag.
The aim of the meeting was to focus on co-operation in the energy sector, as well as the perspectives for development.