The Algerian National Steel Holding Company (SNS) and the Bank for Agriculture and Rural Development (BADR) have formalized a new partnership to complete and operate the Ouled Moussa steel project in the province of Boumerdes. The Memorandum of Understanding, signed at the SNS headquarters in Algiers on October 27, 2025, highlights Algeria's strategic pursuit of industrial and economic sovereignty through the revitalization of its steel industry.
Goals of cooperation
According to the parties, the agreement will:
- Promote the completion and commissioning of the Ouled Moussa steel complex.
- Contribute to the expansion of Algeria's domestic steel production capacity.
- Create new jobs and promote the use of local mineral resources.
- Supporting Algeria's broader industrialization strategy within the framework of national development programs.
Enhancing industrial sovereignty
The signing ceremony reflects the shared vision of strengthening Algeria's industrial and economic independence. The partnership marks a new milestone in the integration of the industrial and financial sectors, consistent with the government's goal of making the metals industry a central driver of sustainable economic growth.
