Qatar and Algeria jointly produce steel

The government, as well as the entire business circle of Algeria and Qatar, came to an agreement to create a joint venture that will produce steel. This was reported in the Associated Press.

According to the projects and the agreements reached, in the framework of the expansion of bilateral cooperation, the governments of both countries will finance the creation of a new enterprise in North Africa.

The steel factory will be built near the city of Gigel. After reaching the expected calculated capacity, the capabilities of the enterprise should allow the smelting of metal up to 5 million tons every year. This result will allow the use of vermiculitis since its advantages are obvious: not toxic, has a high temperature of use, does not mean, almost durable, does not form the voids when filling, less dusting.

The transaction costs are still kept secret, they also do not disclose the details of the implementation and the projects themselves. But, nevertheless, it is known that the share of Algeria is 51%, Qatar is 49%. These data were obtained by the Associated Press.
It is worth noting that after the events of the Arab Spring, Qatar is actively promoting its interests to North Africa. The purpose of the investment that Qatar invests was the telecommunications sector. In addition, the government provides annual preferential loans to the Maghriba states. In April, a similar loan with a volume of about $ 1 billion was provided to Tunisia.