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FINANCIAL NEWS
Qatar eyes steel investment in Algeria
08 Jul 2012
(MENAFN) Qatar plans to set up an iron and steel plant in Algeria, as part of various deals expected to be signed as part of a two-day ministerial visit to the North African country, state news agency QNA reported.
Qatari Minister of Economy and Finance Youssuf Hussein Kamal is leading the Qatari delegate in the two-day visit to Algeria.
Kamal was expected to sign an agreement between the two countries to establish an iron and steel factory in the Algerian city of Jijel.
The plant will be 51 percent owned by Qatar and the remainder 49 percent will be owned by Algeria, and is poised to reach an annual output average of five million tons.
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