APS : Wednesday, 27 January 2021
ALGIERS-The Algerian Qatari Steel (AQS) Group, a subsidiary of the Sider Company, signed Wednesday in Algiers a partnership agreement with South Korea’s Posco International on the export
of products manufactured by the Bellara steel complex.
“This agreement should enable us to export 150,000 tonnes of iron and steel products (concrete reinforcing bar, wire rod and steel billets) in 2021 to various countries at interesting prices, notably to Europe, a continent with which we have fiscal advantages under the Algeria-EU Association Agreement,” said the CEO of the metal and steel industry group Imetal Tarik Bouslama ahead of the signing ceremony.
“This initiative is a great step towards the achievement of the public authorities’ goals in terms of non-hydrocarbon exports development,” said Bouslama.
Outre l’expédition des produits sidérurgiques vers l’Europe, les accords de l’Algérie avec le continent africain, dans le cadre de la zone de libre-échange continentale africaine (Zlecaf) ainsi qu’avec la Grande zone arabe de libre échanges (GZALE), ouvre la voie pour exporter davantage vers ces régions, en tirant profit des avantages fiscaux offerts par ces accords, selon le PDG de Imetal.
In addition to the export of iron and steel products to Europe, Algeria’s agreements with African countries under the African Continental Free Trade Area (AfCFTA) and the Greater Arab Free Trade Area (GAFTA) provide opportunities to boost exports to this region under fiscal advantages, said the Imetal CEO.
“We have already gained experience in the export of metallurgical products from Sider El hadjar, but with the commissioning of the Bellara steel complex, our capacities have increased and we need a powerful relay to strengthen our position on the international markets and thus be able to sell our products at attractive prices,” he stressed.
Chairman of the Board of Directors of Algerian Qatari Steel Mohamed Lamine Lebbou said that the choice of the South Korean partner was made on the basis of “objective criteria” including its proven experience in assisting exporting companies internationally and its presence in the four corners of the world.
“Thanks to this partnership, we expect to achieve significant volumes of exports and we plan to exceed 150,000 tonnes in the coming years,” he continued.
The Bellara steel complex, which is the result of a partnership between Qatar Steel International (49%), Imetal Group (46%) and the National Investment Fund (FNI/5%), “plans to produce 1.5 million tonnes in 2021, and should reach a capacity of 2 million tonnes in 2022”, said the same official.
With an investment worth two US$2 billion, the complex includes 10 production units, two electric furnaces, a natural gas plant, an electric transformer, a lime plant and a water treatment unit.