Algerian Qatari Steel (AQS) is set to expand its production capacity within the scope of the second part of a large investment, according to the memorandum of understanding (MoU) recently signed by the Qatar Mining CEO and Algeria’s ambassador to Qatar in the presence of Qatar’s Minister of Commerce and Industry and Algeria’s Minister of Trade and Export Promotion.
The MoU, according to sources, aims to study the feasibility of a doubling of production capacity by AQS to increase its crude steel output to 4 million mt per year. The company is based in Bellara Industrial Zone in Algeria and is one of the top two integrated steel producers in the country, along with Tosyali Algerie. AQS is a joint venture, in which Algeria and Qatar have 51 and 49 percent stakes, respectively.
The signed agreement is based on the countries’ joint ambition to develop the iron and steel industry through a stronger partnership. In addition, the increase in AQS’ capacity will help meet local requirements for steel and will boost exports as there will be some surplus production, SteelOrbis understands.
