Mr. Youssef bin Ahmed Al-Mohannadi, member of the Board of Directors and General Manager of the Algerian-Qatari Steel Company, revealed that the company’s turnover reached about 1.2 billion dollars in the year 2023. After the production pace reached nearly 1.7 million tons of finished products, more than 700 thousand were exported. tons of it to 30 countries around the world, with a financial value exceeding 423 million dollars.
In an interview with Qatar News Agency (QNA), the company’s general manager revealed the imminent launch of the second phase of the company’s expansion project, after feasibility studies are completed. This expansion will enable the Balara Steel Factory to double its production capacity. To increase the production of two million tons of finished iron products, to a capacity of 4 million tons annually, saying: “The second phase of the project will push towards the production of new steel products, in order to cover the most important needs of the local market, as well as providing products needed by international markets.” Thereby diversifying and expanding the circle of exports outside of hydrocarbons.”
Al-Mohannadi said: “The important numbers recorded by the Algerian Qatari Steel Company and its distinguished international presence are the result of an action plan developed by the governing body, and based on comprehensive systems in management, production and marketing, and this is what enabled us to reach the most difficult and demanding global markets.”
He pointed out that the strategy adopted by the company’s management according to a solid long-term plan is based on strengthening its international position and expanding its competitive circle regionally and globally, thus contributing more to raising Algeria’s export capabilities, while providing steel products for which demand has increased in the internal market.
The establishment of the Algerian-Qatari Steel Company dates back to the year 2013, within the framework of a cooperation agreement between the State of Qatar and the Republic of Algeria, in which Qatar Steel International owns 49 percent, and the Algerian side owns 51 percent.
The company was built in the Belara industrial zone in the municipality of Milia, in the state of Jijel, on a total area estimated at 216 hectares. The year 2015 witnessed the start of the project’s executive work, after which the first production unit entered service in 2017, and all units by the end of 2021. .
Today, Algerian-Qatari Steel is considered one of the most prominent companies in the heavy industries sector, as it has an advanced industrial complex that includes the latest technologies used in the field of iron and steel at the international level, led by the environmentally friendly direct reduction unit, which is the largest in the world.
