Algeria, Qatar to create venture company of steel production
الشروق أونلاين
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Algeria and Qatar signed on Wednesday a protocol of agreement to create a joint venture company, to achieve a company of iron and steel in the zone of Bellara in Jijel, eastern Algeria, with a production capacity of 5 million tons annually.
Company of iron and steel in Bellara will produce, during the first phase, two million tonnes at a cost of investment estimated to two billion dollars, according to the Minister of Industry and SMEs and Investment Promotion, Cherif Rahmani, who oversaw the work of the Algerian-Qatari bilateral Committee bilateral, in the presence of the Finance Minister Karim Djoudi and Qatari Minister of Economy Yousef Hussein Kamal.
Cherif Rahmani said that starting in the completion of the project by a group of “Qatar Steel International” and company “Cedar” according to a base of investment 51/49, will be in 2013, and will enter into production by the year 2017, with a preliminary production capacity of two million tons of iron construction and long threaded steel, and will use the technology of DRI with natural gas, and iron as a raw material for the manufacture of Steel Construction and threaded iron, that are imported from abroad, where there is a “Qatar Steel international” on the factory for the production of iron pellets in the State of Bahrain.
The second phase of the project will be allocated for the production of many types of special steel, which is used in manufacturing cars, and flat steels that will be used in the railroad industry, in addition to producing pipes without welding, to reduce imports of iron, steel, which amounted to 10 billion dollars by the end of 2011.
The Minister of Energy, Youcef Yousfi, and the Qatari Minister of Economy and Finance, agreed on the completion of an electrical power plant with the capacity of 1200 MW in the region of Bellara, to supply the project with electricity, to be connected to the national grid to take advantage of electricity surplus, which exceeds the need of the station, which is expected to reach the cost of production of about two billion dollars.
