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Qatar and Algeria plan to partner on steel plant - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates (AP) — The official Qatar News Agency says the gas-rich Gulf nation has agreed to build a steel plant in Algeria, extending its business ties to North Africa.

A deal signed Saturday calls for a plant in the eastern coastal city of Jijel with the capacity to produce five million tons of metal annually.

The news agency reported that Algeria would have a 51 percent stake in the project, with Qatar holding the rest. Financial terms were not disclosed.

Qatar has been ramping up its investments in North Africa’s telecom sector and other industries. It offered Algeria’s neighbor Tunisia a $1 billion low interest loan in April to shore up the country’s battered economy.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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