Chinese contractor Sinosteel Engineering and Technology has signed a $508 million deal to build an integrated steel plant for Turkish steelmaker
Tosyalı in
Algeria, according to media reports.
The new plant reportedly will reduce
Algeria's steel imports by $10 billion per year.
Tosyalı already operates a 900,000 mt per year rebar mill in Oran,
Algeria, launched in June 2013 with an annual crude steel capacity of 1.25 million mt per year.