HE Qatari Minister of Economy and Finance Yousef Hussain Kamal will pay on Saturday a two-day working visit to the Democratic People's Republic of Algeria.
During the visit, HE the Economy and Finance Minister along with Algerian Minister of Industry, Small and Medium Enterprises and Investment Promotion, Mohamed Benmeradi will sign a final agreement on building Iron and Steel plant in the Algerian city of Jijel.
The Qatari-Algerian agreement signing ceremony is scheduled to be held in the capital, Algiers, and will be followed by a press conference by HE the Economy and Finance Minister.
HE Minister Yousef Hussain Kamal will hold talks with a number of Algerian officials on bilateral relations and ways of developing them, particularly in the fields of economy and finance.
In a statement to Qatar News Agency (QNA), Media Consultant for the Algerian Industry Minister Mohamed Abdulrahmani said that the Algerian government has proposed that the joint venture between Qatar, Algeria and a German company will be located in the Bellara industry zone near Jijel.
Abdulrahmani pointed to a previous statement of Mohammed Benmeradi, saying that the plant will produce 2.5 million tons of long steel in its first phase, and is likely to produce 5 million tons of long, flat and special steel in the second phase.
The two parties are currently preparing a preliminary study that will determine all the technical aspects of the project.
The joint venture steel mill will be 49% owned by Qatar and 51 % owned by Algeria in accordance to the Algerian investment law. (QNA)