Industries Qatar Plans to Invest in New Steel Plant in Algeria

Industries Qatar QSC’s (IQCD) steel unit plans to invest in a new plant in Algeria that will start operating after 2016, according to a five-year plan released by the company yesterday.

Qatar Steel International is seeking a 25 percent stake in the Algerian venture and has earmarked 1.5 billion riyals ($410 million) for foreign investment, according to the plan. The plant will have a capacity of 4.8 million tons a year.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net

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