Algeria’s Souakri Group secures over US$1B in agrochemical investments at IFE 2025
These deals were formalized during the 2025 International Food Exhibition (IFE) in London.
ALGERIA – Algeria’s Souakri Group has entered into two significant investment agreements totaling US$1.05 billion with international partners in the agrochemical sector.
These deals were formalized during the 2025 International Food Exhibition (IFE), held from March 17 to 19 in London, UK. This event provided Algerian companies with significant opportunities to expand their global market presence.
The first agreement, valued at US$1 billion, was signed with Azerbaijan Methanol Company LLC (AzMeCo), one of the largest methanol producers, to establish the “Algeria Methanol Company,” a joint venture aimed at developing a cutting-edge methanol production plant in Algeria.
The planned facility is expected to have an initial production capacity of 1 million tonnes per year, with downstream units to manufacture ammonia, urea, formaldehyde, and other methanol derivatives.
The signing ceremony was attended by the Algerian Ambassador to London, Mr. Nourredine Yazid, and the representative of the Ministry of Foreign Trade and Export Promotion, Mr. Houari Abdelatif.
Abdenour Souakri, Chairman of Souakri Group, emphasized the significance of this partnership, stating that it marks a critical step in expanding Algeria’s petrochemical sector and aligns with the country’s broader strategy to diversify its industrial base and enhance its standing in global markets.
Echoing this sentiment, AzMeCo Chairman Nizami Piriyev highlighted Algeria’s strategic advantages, including its geographic location, industrial growth, and strong government backing, making it an ideal site for this major investment.
In a separate agreement signed at the same event, the Souakri Group also secured a US$50 million deal with Swiss company Casale Technology to develop an NPK fertilizer plant with a production capacity of 100,000 tonnes per year.
Souakri Group has been seeking expansion with strategic partnership to meet the growing demand for its products.
In February 2025, the Group signed a Memorandum of Understanding with Offshore Wind Power Systems of Texas Inc. (OWPST) to develop a large-scale green hydrogen production facility in Algeria. This project aims to leverage Algeria’s renewable energy resources and strategic location for hydrogen exports, aligning with the country’s goals for a clean energy transition.
Beyond these high-profile partnerships, the International Food Fair facilitated several business engagements for Algerian firms.
Companies such as SARLS Houkoul El Janoub, Tahraoui, and CATM showcased fresh produce, while the Enterprise for the Development of Strategic Agricultural Crops (DCAS) and the CEBON Group, known for the El Mordjene spread, attracted international distributors.
The quality of Algerian products garnered significant interest, with foreign buyers expressing their intent to establish long-term supply agreements.
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