Benyounes: “Iron and Steel Bellara industrial pole will be achieved with or without Qatari partner”

Algerian minister of industrial development and investment promotion, Amara Benyounes, announced Sunday in Algiers that the shareholding pact for the achievement of the iron and steel industrial complex of the new city of Bellara, in eastern Jijel province is in the process of finalization as part of an Algerian – Qatari partnership.

However, Mr Benyounes pointed out that in case of an unexpected turn in events, the Bellara industrial pole would be duly achieved even without the Qatari partner.

This contingency came about in the wake of persistent reports that the Qatari partners are considering to pull out of this major industrial project for still murky reasons.

Informed sources suggested to this effect that the Qataris want a revamping of some non-lucrative clauses in the specifications register or else forsake the project for good.

The clauses, which the Qataris want to get overhauled, have not as yet been specified by the relevant authorities.

The Bellara industrial project will require an investment package worth over two billion US dollars in a first phase and will allow for an overall production of about two million tons of steel starting from the year 2017.