Petroleum equipment will be manufactured in Algeria; in the framework of a joint venture between the state-owned company Poval and the Chinese company Shandong Kerui Well Control Equipment, Cap Algerie website reported Tuesday.
Both parts will manufacture wellheads that Algeria imports at an annual amount of 200 to 400 million dollars. A memorandum of understanding was signed on Tuesday in Algiers between the two companies in this regard.
The plant will be built during the financial year on the industrial site of Poval in Berrouaghia in the wilaya of Medea), on an area of 47 hectares. It is expected to enter service in 2018 for a capacity of 1,000 units in the first year of operation.
It will also ensure an integration rate of 70% thanks to the contribution of Poval for products manufactured under Chinese label.