Doha: General Manager and CEO of Algerian Qatari Steel (AQS) Yousef Ahmed Al Muhannadi expressed his appreciation for the inauguration of AQS by Amir H H Sheikh Tamim bin Hamad Al-Thani and H E the President of the People’s Democratic Republic of Algeria Abdelmadjid Tebboune, explaining that AQS is one of the most important joint strategic investments between the two countries.
In an interview with Qatar News Agency (QNA), Al Muhannadi said that H H the Amir and H E President Tebboune’s inauguration of the company affirms the two leaderships’ interest in strengthening and developing strategic partnership in investment fields, similar to other areas of cooperation that witness strong momentum at various levels.
He emphasised that this company is a model for successful strategic and mutually beneficial partnerships between Arab countries, adding that the AQS is an embodiment and practical application of Algeria’s development vision in the industrial field, and it achieves the goals and objectives of Qatar National Vision 2030, especially the process of foreign investment and the diversification of income sources, in addition to its role in strengthening and consolidating relations between the two countries and attracting more investments to Algeria.
AQS was established in 2013 with a capital of USD 2.1 billion and joint ownership. The State of Qatar, represented by Qatar Steel International, owns 49 percent of the project value and 51 percent for the Algerian side.
The companys factory is located in the “Bellara” industrial zone, in Jijel, about 375 km east of Algiers, and extends over an area of 216 hectares, in addition to the part dedicated to incubating facilities for transporting and transferring raw materials at the level of Djen Djen port, which has an area of 10 hectares.
The factory also includes 60 individual buildings, 10 km of internal railway lines, and 23 km of roads linking the facilities, as it is an integrated industrial complex.
The General Manager and CEO of Algerian Qatari Steel (AQS) indicated that the construction of the plant was completed in 2020, but the conditions of the (Covid-19) delayed the official opening.
He said that it is fortunate that this joint Algerian-Qatari project will be inaugurated in conjunction with the work of the Arab Summit hosted by Algeria.
He stated that the factory, which started actual production in 2017, has a current production capacity of two million tons annually of rebar and iron wire, and a study is underway to raise production to four million tons annually. Al Muhannadi said that last year, the factory witnessed the entry of a direct reduction unit with a production capacity of 2.5 million tons annually of reduced iron, both cold and hot.
He noted that this unit is the largest in the world, and is one of the most important strategic units in the factory, which entered the actual production stage in October 2017.
He also referred to the unit for receiving raw materials, which has a production capacity of 3.8 million tons annually, which is a complete project in itself, not only for receiving iron ore, but also for exporting the final and semi-manufactured products as well.
In his interview with QNA, Al Muhannadi explained that, in addition to its production of iron rods and coils of iron wire, the factory produces oxygen, nitrogen and argon through a gas separation plant. He pointed out that the factory effectively contributed during the (Covid-19) crisis in feeding Algerian hospitals with oxygen, which was greatly appreciated in Algerian society. The General Manager and CEO of Algerian Qatari Steel (AQS) added that the factory also produces materials such as limestone, which are included in the company’s sales list.
