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FINANCIAL NEWS
Qatar, Algeria to jointly build a steel complex
08 Jan 2013
(MENAFN) Algeria and Qatar inked a steel plant agreement, among eight accords, during Qatari Emir’s visit to the North African country, AFP reported.
The joint steel complex, to be set up in Bella, 300 km east of Algiers, is set to have an output capacity of 10 million tones per year.
This would cut Algeria’s overall imports bill by 20 percent, or about USD10 billion annually.
The two major producers and exporters of natural gas, also signed a memorandum of understanding for the production and marketing of fertilizers.
Pro-government daily El-Moudjahid estimated the total value of the energy, mining and industry agreements during the emir’s one-day visit at around USD5 billion.
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