Qatar Steel to Build $1.2 Billion Algeria Plant, QNA Reports

Qatar Steel Co., a unit of Industries Qatar QSC (IQCD), signed an agreement to build a $1.2 billion plant in Algeria to produce 5 million tons of the metal a year, Qatar News Agency said, citing the company.

Qatar Steel will own 49 percent of the facility, while an Algerian partner will hold the rest, QNA said.

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

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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