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Released March 13, 2015 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--A joint venture (JV) between Algerian company Sider and the National Investment Fund (51%) with Qatar International (49%) has laid the foundation to begin construction of a steel complex. The facility will be located in the locality of Bellara in Jijal province, 375 kilometers (km) east of the capital Algiers.
The $1.76 billion project, which is scheduled for completion in 10 months, is part of the industrial partnership cooperation between Algeria and Qatar. It is expected to create about 3,000 jobs during the construction phase.
After commissioning, the complex will create 1,500 direct jobs and 10,000 indirect jobs. The initial production output in 2017 will be 2 million tons per year, which will be ramped up to 5 million tons by 2019.
Currently, the complex at El Hadjar in Annaba province, located 550 km east of the capital Algiers, is the only steel plant in the country, producing 500,000 tons annually.
Algeria is targeting self-sufficiency through increased steel production. The country imports about $10 billion of steel a year.
For related information, see March 28, 2013, article - Algerian-Qatari Joint Venture to Build 5 Million Ton Steel Mill.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The $1.76 billion project, which is scheduled for completion in 10 months, is part of the industrial partnership cooperation between Algeria and Qatar. It is expected to create about 3,000 jobs during the construction phase.
After commissioning, the complex will create 1,500 direct jobs and 10,000 indirect jobs. The initial production output in 2017 will be 2 million tons per year, which will be ramped up to 5 million tons by 2019.
Currently, the complex at El Hadjar in Annaba province, located 550 km east of the capital Algiers, is the only steel plant in the country, producing 500,000 tons annually.
Algeria is targeting self-sufficiency through increased steel production. The country imports about $10 billion of steel a year.
For related information, see March 28, 2013, article - Algerian-Qatari Joint Venture to Build 5 Million Ton Steel Mill.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
