The Egyptian steelmaker Ezz Steel has received approval from the Algerian National Council for Investment for the proposed construction of a new steel mill in Algeria.
The construction of the new mill will be started in the coming weeks and is expected to be completed within a 24-month period from when construction work gets underway.
The new mill, worth $700 million in investment, will have a designed production capacity of 1.5 million metric tons of rebar.