Energy Capital & Power

Algerian Construction Industry to Grow 2.4% in 2024

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Algeria’s construction industry is poised to grow by an additional 2.4% in 2024 due to an increase in oil, gas and renewable energy projects. This growth – led by stronger public finances – is primarily attributed to the Algerian government’s initiatives to expand the share of renewable energy in the energy matrix while increasing oil exports.

Supported by the government’s energy transition initiatives, Algeria’s construction industry is expected to grow at an annual rate of 4.2% between 2024 and 2027.

In 2023, Algeria exported 97 million tons of oil equivalent, marking a 3.5% increase from 2022. Meanwhile, the North African country’s natural gas output increased from 132.7 billion cubic meters in 2022 to approximately 136 billion cubic meters in 2023. In total, Algeria’s National Oil Company, Sonatrach, reported $21 billion in oil and gas export earnings in the first five months of 2023, a 2% increase from the same period in 2022.

As part of the country’s five-year investment plan between 2023 and 2027, Sonatrach plans to spend up to $42 billion to support Algeria’s energy sector. Approximately $30 billion will be allotted to natural gas exploration and production, while $7 billion will be directed towards refining, petrochemical production, and gas liquefaction projects. The remaining $1 billion will be allocated towards renewable energy projects.

Meanwhile, the Algerian government is expected to significantly expand the country’s railway network, with plans in place to expand rail lines connecting mining, gas fields, and construction sites from 4,200km in 2022 to 12,500km by 2030.

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Matthew Goosen

Matthew Goosen

Matthew Goosen is a Video Editor and Content Writer at Energy Capital & Power. He holds an Honours Degree in Film and Media Studies at the University of Cape Town and is currently undergoing his Masters Degree. Born in Pretoria and raised internationally, he has been living in Cape Town since 2013.