São Paulo – Last Monday (7th), Algeria and Qatar signed eight agreements to carry out joint projects at a combined total exceeding US$ 5 billion. The largest project concerns construction of a steelmaking complex to manufacture 5 million tonnes of steel per year. The information was released by the website of Qatar’s Al Jazeera TV.
The agreements provide for cooperation in maritime transport, oil, gas, petrochemicals, trade and services. The documents were signed in Algiers, in the presence of the Algerian president, Abdelaziz Bouteflika, and the emir of Qatar, Hamad Bin Khalifa Al Thani.
The steelmaking complex will be built in the Belara region, 300 kilometres east of Algiers. Construction cost is estimated at US$ 2 billion. Discussions regarding the project took 16 months and works will begin in 2013. Production should start in four years.
The plant will make mostly steel sheets. The goal is to lower Algerian spending on steel imports, which amounts to US$ 10 billion a year.
Logistics and fertilizers
The agreements signed also cover construction of a logistical storage complex in the province of Bumardas. The goal is to strengthen trade in the region, which is located to the east of Algiers.
Another partnership was established to build a phosphate-based fertilizer plant in Algeria’s Souk Ahras province. Other projects include gold exploration in southern Algeria and the establishing of a maritime route between the two countries.
*Translated by Gabriel Pomerancblum
