Oman is considering a tripartite project with Algeria and Belarus to establish a potassium fertilizer production facility. This initiative follows a proposal by Belarusian President Alexander Lukashenko during his recent visit to Muscat.
According to reports, the Chairman of the Oman Investment Authority, Abdelsalam bin Mohammed al-Murshidi, confirmed Oman’s readiness to engage in this significant industrial venture. He highlighted Algeria’s strategic importance due to its abundant and cost-effective natural gas resources, making it a suitable location for hosting or actively participating in the project.
“Algeria possesses key production elements, notably low-cost natural gas,” al-Murshidi stated, emphasizing the potential for a mutually beneficial collaboration.
The Omani official also indicated an openness to exploring joint production of compound fertilizers, leveraging Belarus’s expertise in the fertilizer sector, Algeria’s energy and industrial capabilities, and Oman’s strategic position in global supply chains. The proposed cooperation aims to capitalize on each nation’s strengths to create a robust and competitive fertilizer production hub.
This initiative builds upon the growing economic ties between Algeria and Oman, evidenced by the recent signing of a memorandum to establish a joint investment fund. Omani officials have also expressed a desire for a more diversified and dynamic economic partnership with Algeria, particularly in the areas of food security and industry.
The proposal is expected to pave the way for detailed consultations between the three countries to assess the investment and technical feasibility of the project. With increasing global demand for fertilizers, and the complementary production capabilities of the participating nations, this collaboration has the potential to become a major industrial undertaking in the region. This project could significantly impact the fertilizer market.
