Algeria’s National Steel Holding Company (SNS) and the Bank of Agriculture and Rural Development (BADR) have formalized a new partnership to drive the completion and operation of the Ouled Moussa steel project in Boumerdes Province. The memorandum of understanding, signed at SNS’s Algiers headquarters on October 27, 2025, underscores Algeria’s strategic push toward industrial and economic sovereignty through revitalization of its steel industry.
Aims of the cooperation
According to the parties, the agreement will:
- Facilitate the completion and commissioning of the Ouled Moussa steel complex.
- Contribute to the expansion of Algeria’s domestic steel production capacity.
- Create new jobs and promote the use of local mineral resources.
- Support Algeria’s broader industrialization strategy under national development programs.
Boosting industrial sovereignty
The signing ceremony reflects a shared vision to strengthen Algeria’s industrial and economic independence. The partnership marks a new milestone in integrating the industrial and financial sectors, aligning with the government’s objective to make metallurgy a central driver of sustainable economic growth.
