09 Nov 2012
(MENAFN) Qatar International won a USD2 billion Algerian contract to set up, own and operate a steel plant in the North African country, reported Arabian Business citing APS news agency.
The company, a joint venture by Qatar Steel and Qatar Mining, expects the plant to help Algeria meet local demand and lessen steel imports, which cost the country around USD10 billion.
The plant, in which the Qatari firm will hold a 49-percent stake and Algeria’s Sider the remainder, will be located in the Jijel province in eastern Algeria.
Construction works on the facility will begin next year, whereas production is expected to start from 2017 with an initial annual capacity of 2 million tons, which would be boosted to 5 million tons eventually.
It is worth noting that the final agreement will be inked in the first half of December.
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more