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Qatar and Algeria ink pact for steel complex
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Tuesday, 26 Mar 2013

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.

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