Search on
News Title
News Details
Reports/Directory
Glossary
Title_head
Qatar and Algeria ink pact for steel complex
604 times viewed.
Tuesday, 26 Mar 2013
EmailButton
Pdf_button
coming-soon

Gulf Times reported that Qatar and Algeria are jointly constructing a steel complex in the North African country with a total production capacity of 4 million tonnes per annum of steel rebars and wiring rods.

Pursuant to a joint venture pact inked on January 7 this year, a shareholders’ agreement was signed on Sunday for the construction and operation of the steel complex.

The steel complex at the industrial area of Bellara (Jijel) is being constructed through a joint venture in which Algeria (represented by Sider Company and National Investment Fund) will have 51% stake and the remaining 49% with Qatar (represented by Qatar Steel International and Qatar Mining 24.5% each).

The first phase of the project, which is expected to cost USD 2 billion, will produce 1.5 million tonnes per annum of steel rebars and 0.5 million tonnes per annum of wiring rods

The joint venture is scheduled to be established within a month and the project is expected to take 42 months to complete. The plant’s commercial production is slated to start in 2017 with an estimated capacity of more than 5 million tonnes per annum in its final phase.

Source - gulf-times.com

(www.steelguru.com)

This is alternative content.

/
Arcelor
Middle East News