India to initiate a joint venture arrangement with Algeria for a multi-billion dollar fertilizer plant located in the North African country seemed to have moved to the front burner following a meeting between Algerian Minister for Industry and Mining and the Indian Minister of State for Chemicals and Fertilizers Mansukh L. Mandavia. India, which has up to 96 per cent phosphate dependency, with the volumes running to some six
million tonnes a year, is seeking a 49 per cent share in an Algerian block that has a capacity of six billion tonnes with 26 per cent to 50 per cent phosphate content. For India, such a project will have major favourable food security implications and could ease the fertilizer subsidy burden as well.
India currently imports raw phosphate resources from a number of African countries including Tunisia, Jordan, Egypt and Syria, as also from Russia, Canada and Israel among others.
India’s bilateral trade with Algeria currently stands at $1.5 billion a year with the trade balance in Algeria’s favour given India’s import of oil and gas.
The major item of exports from India has been automobiles, although qualitative restrictions have now kicked in. Algeria instead seeks assembly on its shores.
Algeria
Algeria is a North African country with a Mediterranean coastline and a Saharan desert interior.
Capital: Algiers
Currency: Algerian dinar
Official language: Arabic
Presidend : Abdelaziz Bouteflika
Prime Minister : Abdelmalek Sellal
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