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.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.