ETRHB steel project to be resumed in Algeria

Wednesday, 07 April 2021 15:33:13 (GMT+3)   |   Istanbul
       

The Algerian authorities have announced that the realization of the earlier-suspended Berrahal steel project (ETRHB) will continue despite the previously reported conflicts of the owner with the law.

The investment, which started in 2017 and was stopped in 2019 following a court decision against its owner Ali Haddad, will be resumed, according to the Algerian industry minister. The progress of the project is estimated at 75 percent. "It is up to the state to find the best formula for its revival,” the minister said. The cost of production is estimated at around $400 million and the investment is expected to generate over 2,000 jobs. The steel complex, according to the earlier-disclosed information, will produce from 850,000 mt to 1 million mt of steel, mainly long products. However, the company had earlier considered mastering pipe production also.

The commissioning of the project, which was previously expected to be in July 2019 has now been pushed back for a couple of years from now. Moreover, market players have expressed concerns regarding the state of the equipment and the construction materials that were meant to be used in frames for the project and which have been stored at docks all this time.


Most Recent Related Articles

Russia’s Evraz NTMK to modernize CCM No. 1

Tosyali Algerie expects export revenue of $700 million in 2021

Chinese consortium to develop iron ore deposit in Algeria

Suez Canal still blocked, resolution may take “days to weeks”

Contradictory reports on Suez Canal traffic jam after grounding of container ship