Algeria-based National Steel Company (SNS) has taken a major step to strengthen its industrial base by signing eight agreements worth $950 million with partners from Algeria, Senegal and China, according to local media reports. These deals aim to enhance national manufacturing capacity, expand exports, and create thousands of direct and indirect jobs across the region.
New partnerships will support agriculture, automotive parts, galvanization, and steel mold production, reducing import costs and Algeria’s import dependence.
Details of the agreements
The agreement between SNS and China-based Habicare focuses on the production of spare parts and steel molds, while the agreement made with China-based Shanxi Installation Group involves collaboration in galvanization processes. Through collaborations with Senegalese companies CFTS and FONDAL, Algeria is expanding its industrial presence in West Africa by SNS building a production unit.
Other companies SNS signed agreements with are local companies Anabib, Algeria FAW Trucks Industries, El Sewedy Electric Algeria Group and German vehicle spare parts manufacturer EMSG Mansour, with a focus on industrial and agricultural sector investments, reducing import dependence in truck and automotive parts.
