Benmeradi Denies The Withdrawal of Arcelor Mittal From El Hadjar

Minister of Industry, Mohamed Benmeradi, has denied on Thursday the existence of any intention to stop partnership with Arcelor Mittal in the steelworks of El Hadjar, in Annaba, northeast Algeria.

At the sidelines of the hearing session at the People’s National Assembly (APN), Mr Benmeradi told reporters that the foreign partner (Arcelor Mittal) still holds 70 percent stake, while the rest 30 percent stake is held by the Algerian party.
The minister further added that an agreement had been sealed in 2001, and which cannot not be cancelled, adding that the partnership will go on, given that the Arcelor Mittal Annaba is a profitable group.
He specified that the group has supported the public treasury by 150 million DZD, “yet the two parties have to boost the investment side.”