GE JV to set up turbine manufacturing unit in Algeria

GE has signed an agreement to build an industrial complex to produce gas and steam turbines in partnership with Algeria's Sonelgaz at a cost of $400 million. The complex, which will start operating in 2017, will produce six to eight generators and control systems per year with a total capacity of 2,000 megawatts, officials said.

A joint venture called General Electric Algeria Turbines (GEAT) will be set up to build and operate the complex in the eastern province of Batna. Sonelgaz will hold a 51 percent stake, while GE Industrial France, a subsidiary of GE, will hold the remaining 49 percent. In July last year, GE won a $2 billion deal with Sonalgaz to supply turbines.