Qatar, Algeria Partner For Steel Factory Project

Steel factory

VENTURES AFRICA – Qatar has disclosed plans to invest in an iron and steel factory in Algeria, in a deal, which is the first of many, expected to be signed as part of a two-day ministerial visit to the North African country.

The Qatari Minister of Economy and Finance Youssuf Hussein Kamal arrived in Algeria on Saturday to kick off a two-day visit which would see the minister sign an agreement between the two countries to establish an iron and steel factory in the Algerian city of Jijel, Qatar News Agency (QNA) reported.

According to the agreement, 51 percent of the plant, which will have an annual production capacity of five million tons, will be owned by Algeria and 49 percent by Qatar.

Reports also indicate that the ministerial delegation will hold talks with the Algerian Minister of Industry and Small and Medium Enterprises Mohamed Bin Moradi on economic and financial cooperation between the two countries.