Qatar and Algeria ready to sign up to joint steel plant agreement
Qatar is expected to sign a deal with Algeria today that will see the two countries build a steel plant in the Algerian city of Jijel. Both countries signed a MoU in October last year to work on a solution that would ease Algeria’s reliance on steel imports. Cash-rich Qatar is also eager to expand […]
Steel is a vital contributor to the energy and construction sectors
Qatar is expected to sign a deal with Algeria today that will see the two countries build a steel plant in the Algerian city of Jijel.
Both countries signed a MoU in October last year to work on a solution that would ease Algeria’s reliance on steel imports. Cash-rich Qatar is also eager to expand its influence internationally as it looks to reduce its own reliance on revenue from gas and oil.
Qatari minister Yusef Kamal arrived in Algeria on Friday to finalise the deal which will see the construction of a plant that will have the capacity to produce 2.5 million tonnes of steel per year.
It is estimated that iron and steel imports, valued at $10 billion per year, contribute 20% of total imports to the North African country.
