Qatar plans steel factory in Algeria

Agreement is part of a ministerial visit to the country
Qatar plans steel factory in Algeria
By Shane McGinley
Sun 08 Jul 2012 11:53 AM

Qatar is to invest in an iron and steel factory in Algeria, the first of many deals expected to be signed as part of a two-day ministerial visit to the North African country, it was announced on Saturday.

HE the Minister of Economy and Finance Youssuf Hussein Kamal arrived in Algeria on Saturday for the start of a two-day visit, the Qatar News Agency (QNA) reported.

As part of the tour, 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, which will have an annual production capacity of five million tons, will be 51 percent owned by Algeria and 49 percent owned by Qatar, QNA added.

The ministerial delegation will also 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, the report added.

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