Car industry: Sonatrach to produce 5 million tons of tyres .

ORAN (Algeria)- National oil group Sonatrach eyes to embark on the car industry sector as it plans to produce 5 million tons of tyres per year, announced Monday in Oran, Sonatrach Vice-president for de downstream activity Akli Remini.

“We will support the car industry sector by producing 5 million tons of tyres per year,” Remini told the press on the sidelines of a Show on Petro-chemistry in Oran.

For the project, the official said that Sonatrach negotiating with foreign partners before its launch soon.

“This new investment is part of a broad program launched by Sonatrach Group in the wake of a strategy to boost the Group’s raw material processing activities,” he explained.

Natural gas processing projects for the production of plastic and methanol are planned as part of the same strategy, Remini said, noting that Sonatrach is planning to diversify its investments.

Asked about the execution of the investment program in the moment when global oil prices fluctuate, Akli Remini assured that the Oil Group whole investment program is maintained.

“We are expecting a rise in oil prices,” he added.

In this register, Remini stressed that Sonatrach is redeploying to the international market in terms of investments, noting that the oil group is present in 60 companies abroad.

Concerning the program for the renewable energy development, the Vice President of Downstream indicated that investment projects in this sector are going well.