State energy company Sonatrach and Baker Hughes Inc. (NYSE: BHGE), part of GE, will set up a joint venture and build an oil equipment plant in Algeria at a cost of $45 million under a deal signed on Nov. 9, Sonatrach said.
Algeria's Sonatrach will hold a 51% stake and Baker Hughes the remaining 49% in the project which will be based in Azrew in western Algeria, it said in a statement.
The site is due to start production in December 2019.
"With Sonatrach, we are able to establish a strong manufacturing hub that will increase local capacity and boost exports," Baker Hughes CEO Lorenzo Simonelli said in the statement.
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