Ali bin Hassan Al Muraikhi, Chairman, Qatar Steel International, and Hasnawi Shaiboub, Chairman, Sidar Company, Algeria, signed the Articles of Association for the Algerian Qatari Steel Company recently in Algiers, a press release issued by Industries Qatar said.
The signing ceremony was attended by a Qatari delegation, headed by H.E Dr. Khalid bin Mohamed Al Attiyah, Minister of Foreign Affairs, H.E Dr. Mohammed bin Saleh Al Sada, Minister of Energy and Industry and Ahmad bin Mohamed Al Sayed, CEO, Qatar Holding. On the Algerian side, the ceremony was attended by Amara bin Younes, Minister of Industrial Development and Investment. The joint venture is scheduled to be registered in January 2014.
Qatar Steel International, equally owned by Qatar Steel Company and Qatar Mining, will hold 49% of the new company, while Algeria, represented by Sidar Company and National Investment Fund, will hold a 51% stake, as per the Algerian Investment Law, 2009. The engineering and construction works are expected to take approximately four years.
@The Peninsula