Qatar to Build Algeria Steel Plant in Jijel, QNA Reports

Qatar will sign a final agreement on July 7 to build a steel plant in the Algerian city of Jijel, the state-run Qatar News Agency reported.

The agreement to build the plant will be signed by Yousef Hussain Kamal, Qatar’s finance minister, in Algiers, QNA said. The plant will be 51 percent owned by Algeria and 49 percent owned by Qatar, the news agency said.

Qatar, through its sovereign wealth fund and companies, has invested in real estate and industrial projects outside the emirate, as the country seeks to spend proceeds from the export of liquefied natural gas.

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

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.