Algerian Qatari Steel Company has announced plans to expand its factory.
His Excellency Sheikh Faisal bin Thani Al Thani, Chairman of the Board of Directors of Qatar Mining Company, announced that the "Algerian Qatari Steel" held its board of directors and general assembly meetings on Tuesday, 27 February 2024. The company achieved profits for the second consecutive year, with an increase of 34% compared to 2022.
Engineer Khaled Ahmed Al Obaidli, Chairman of the Board of Directors of Qatar Steel International, stated that the company's transactions amounted to approximately $1.2 billion in 2023, following a production rate of approximately 1.7 million tons of finished products. Over 700 thousand tons were exported to 30 countries worldwide. He also disclosed the completion of feasibility studies for the second phase of the factory expansion project. This expansion will double the factory's production capacity, increasing it from two million tons of finished iron products to four million tons annually. He also highlighted that the ongoing operational plan has enabled the company's products to be approved by the most prestigious international bodies in various global markets. In 2023, the Algerian-Qatari Steel Company obtained several quality, type, and safety-related certificates, including product accreditation in the Baltic countries by Kiwa, reinforcement iron product conformity certification in Poland by Zetom, product export certification to Scandinavian markets by Globecert AB, in addition to reinforcement iron and wire coil conformity certification by the British Board for Certification of Steel Products worldwide, UK CARES. These certificates, preceded by several others such as "ISO 9001", "ISO 14001", and "ISO 45001", have positioned the "Algerian-Qatari Steel Company" as a distinctive mark in international steel markets in record time.
It is worth mentioning that Qatar Mining Company, fully owned by the Qatar Investment Authority, was established in 2010 to implement high-value developmental investment projects in the mining and metals sector.
In 2012, Qatar Mining established one of its most important subsidiaries, Qatar Steel International, which owns 49% of the Algerian-Qatari Steel Company. This company is the owner of the largest iron and steel plant in the region, located in Bellara, Jijel Province, Algeria, 359 km east of the Algerian capital. The project's cost amounts to $2.2 billion, making it the largest joint Arab project in Algeria. The iron and steel plant in Bellara covers an area of approximately 216 hectares, making it the largest industrial complex for steel in Algeria and the region.