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Qatar and Algeria sign MoU on steel plant at Bellara

Steel News - Published on Mon, 09 Jul 2012

Gulf Times reported that Qatar and Algeria have signed a MoU for the construction of an iron and steel factory in the industrial area of Bellara in Jijel state with a production capacity of 5 million tonnes per year.

The MoU was signed by HE the Minister of Economy and Finance Yousef Hussein Kamal and Algerian Minister of Industry, SME and Investment Promotion Mohamed Benmeradi.

The plant will produce 2.5 million tonnes of long steel in the first phase, and 5 million tonnes of long, flat and special steel in the second phase.

The joint venture steel mill will be 49% owned by Qatar and 51 % owned by Algeria in accordance with the Algerian investment law.

After the MoU signing, Kamal said that HH the Emir Sheikh Hamad bin Khalifa al-Thani attached a special importance to the factory project which will produce and market steel in Algeria.

He told reporters: “We can say that the countdown for the launch of the factory and the production of its first piece of steel has begun”. Production would start in a maximum of 30 months.”

Sourced - Gulf Times

(www.steelguru.com)


Posted By : admin on Mon, 09 Jul 2012
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