Qatar and Algeria are jointly constructing a steel complex in the North African country with a total production capacity of 4mn tonnes of per annum (mtpa) of steel rebars and wiring rods.
The first phase of the project, which is expected to cost $2bn, will produce 1.5 mtpa of steel rebars and 0.5 mtpa of wiring rods to meet the requirements of Algeria, which now imports about 3 mtpa of steel rebars and wiring rods.
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 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 mtpa in its final phase.
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