On the sidelines of an interdepartmental meeting discussing the new development plan for the integrated project of phosphate mining, extraction and processing, Attar said the plan consists of three phases of five years each, involving three provinces, namely Tebessa, Souk Ahras and Annaba.
The first phase requires an investment of three billion dollars, according to him.
"The restructuring of the project will allow production to begin at the end of the first phase," the minister noted.
"Revenues from (phosphate) production could finance the other two phases, estimated at USD1.5 billion each."
The project consists in the construction of a complex for the extraction and processing of ore at Bled Elhadba (Tebessa), processing units in Oued Kebrit (Souk Ahras) for the production of sulphuric acid and phosphoric acid, and other units in Hadjar Essoud (Skikda) for the production of ammonia, nitric acid and ammonium nitrate as well as the extension of the port of Annaba for the export of finished products.
The minister stressed that the megaproject is one of the projects meant to "enable Algeria to get out of dependence on hydrocarbons."