Algerian Qatari Steel Sustains Strong Growth and Strengthens Its Global Position
His Excellency Sheikh Faisal bin Thani Al Thani, Chairman of Qatar Mining, announced that Algerian Qatari Steel held its Board of Directors and General Assembly meetings on February 27, 2024, confirming that the company achieved profits for the second consecutive year, with a 34 percent increase compared to 2022.
Mister Khalid bin Ahmed Al-Obaidli, Chairman of Qatar Steel International, stated that the company’s turnover reached approximately 1.2 billion US dollars in 2023, supported by a production volume of around 1.7 million tons of finished products, of which more than 700,000 tons were exported to over 30 countries worldwide, reflecting the company’s growing international presence.
As part of its expansion strategy, he further revealed that feasibility studies for Phase Two of the project have been completed, which will enable the company to double its production capacity to 4 million tons annually of finished steel products. In addition, the company obtained several international certifications in 2023 related to quality, compliance, and safety, including Kiwa certification for Baltic markets, ZETOM certification in Poland, GLOBECERT AB certification for Scandinavian markets, as well as the United Kingdom Certification Authority for Reinforcing Steels certification, in addition to ISO 9001, ISO 14001, and ISO 45001 standards. These achievements have positioned Algerian Qatari Steel, in a remarkably short time, as a benchmark player in global steel markets.
It is worth noting that Qatar Mining, a wholly owned subsidiary of the Qatar Investment Authority, was established in 2010 to develop strategic investments in the mining and metals sector. In 2012, it founded Qatar Steel International, which holds 49 percent of Algerian Qatari Steel, the owner of the largest steel complex in Algeria and the region, located in Bellara, Jijel, 359 kilometers east of Algiers, with a total investment of approximately 2.2 billion US dollars and covering an area of around 216 hectares.