According to an official press release, the MoU aims to improve cooperation between the two countries to facilitate new investment projects related to the steel industry. More specifically, Algeria and Qatar will investigate the feasibility of expanding Algeria-Qatari Steel Co.’s capacity to 4 million metric tons per year.

Algeria-Qatari Steel Co., located in the Bellara industrial zone of Algeria, is a joint venture of two state-owned enterprises, Qatari Steel International and Algeria’s SIDER Industrial Group. The mill began production in 2013 and currently produces 2 million metric tons per year of reinforcing bar and wire rod.