On April 8, Vincent Le Gouic, CEO of the North Africa division of the world's largest steelmaker Arcelor Mittal, stated that the Algerian subsidiary of the company will strengthen its presence in Algeria, though the group has closed several mills worldwide due to lower demand, according to local media resources.
Le Gouic said that the choice to invest in Algeria was based primarily on confidence in the economy, which is dynamic and growing, in Algerian institutions and government support.
ArcelorMittal Annaba in Algeria will launch a development plan intended to increase its production capacity to 1.4 million mt per year, compared to less than one million mt currently, he said. The increase in production capacity at the complex of El Hajar, 70 percent-owned by ArcelorMittal and 30 percent by the Algerian public group Sider, will help meet local demand and reduce imports.