The Algerian-Qatari Steel Company (AQS) has announced a new wave of strategic and commercial agreements worth over $1.6 billion. The announcement was made during the 4th African Inter-Continental Trade Fair in Algiers.
The landmark $1.2 billion agreement
The centerpiece of the deals is a $1.2 billion agreement with Shelter Bank for Development and Investment in Africa. Under this arrangement, AQS will market and distribute its steel products to more than 40 African countries.
What makes this deal significant is its direct link between steel production and financing infrastructure projects across the continent. This integration of industrial supply and development financing is expected to accelerate Africa’s infrastructure growth while securing AQS a long-term role in regional development.
Additional $420 million in strategic agreements
Alongside the headline deal, AQS secured four major agreements totaling over $420 million with leading African companies:
- Sahel Strategic Partnerships Ltd.: $121 million deal covering exports to Nigeria, Equatorial Guinea, Burkina Faso, and Ghana.
- Unisteel Ltd.: $195.62 million agreement for exports to multiple African markets.
- Al-Najah Leading Industrial Engineering Company: $103 million contract to supply steel products to Libya.
Recognition and strategic importance
AQS’s success in African markets has not gone unnoticed, highlighting its vital role in boosting Algeria’s non-hydrocarbon export revenues.
The latest agreements consolidate AQS’s position as one of Africa’s leading iron and steel producers and contribute to strengthened economic cooperation and shared development across the continent.