Construction of the US$2 billion Bellara steel complex construction will kick off in the first quarter of this year 2015 in Jijel East of Algeria, the prefect of Jijel, Ali Bedrici has said.
The steel project will help the country to produce 4 million tons of steel per year in the second phase of construction, but is designed to first assist in producing 2 million tons of steel rebars in its first phase before 2017 in order to meet the requirements of the local market of iron and steel.
The steel complex project is set to improve Jijel economically and socially, and will feature construction of a steel factory, three rolling mills and two for reinforcing bars.
To this effect, a joint venture between Algerian and Qatari has been formed.
The projects shareholding will be between Algeria’s Sider Co. & National Investment Fund – holding 51% and Qatar steel International having 49% stake, while Qatar steel and Qatar mining have 24.5$ and 24.5% respectively.
The Bellara Steel Complex project will offer 1000 direct and indirect job opportunities and reduce the country’s steel imports, which are currently estimated to about 3 million tons.