Qatar-based long steel producer Qatar Steel has finalized a deal to build a steel plant in the industrial area of Bellara in the state of Jijel in Algeria, according to media reports. The $2 billion steel plant will be 49 percent owned by Qatar Steel and the remaining 51 percent will belong to an Algerian state firm.
The construction works are expected to start in 2013, while production is scheduled to begin in 2017. The steel plant will produce 2 million mt of long steel in the first phase, rising to 5 million mt once the second phase is completed.
As SteelOrbis previously reported, in July 2012 Qatar Steel signed a memorandum of understanding (MoU) with Algeria for the construction of a steel plant.