Algeria, Qatar Launch Construction Of Steel Complex

　　Algeria and Qatar onMonday laid the first stone for the construction of a steel complex in thelocality of Bellara of Jijel province, 375 km east of Algiers, local mediareported.

　　This 1.76 billion U.S.dollars worth project, which is due to be finished within ten months, is partof the industrial partnership cooperation between Algeria and Qatar. It is dueto generate some 3,000 jobs during the construction phase.

　　Once on service, thecomplex will create 1,500 direct jobs and 10,000 indirect jobs, and will output2 million tons of steel from 2017 in a first step. The production willgradually hit 5 million tonnes by 2019.

　　The complex will beowned at 51 percent by the Algeria company Sider and the National InvestmentFund, while the joint venture of Qatar International owns 49 percent stake.

　　For now, the complex ofEl Hajar, located in the province of Annaba, 550 km east of Algiers, is theonly steel plant in Algeria. It produces 500,000 tonnes of steel per year.

　　Algeria aims atincreasing local steel output to reach self-sufficiency, as it imports annuallyan average value of 10 billion U.S. dollars of steel.