According to report from Qatar News Agency , Qatar Steel, the subsidiary of Qatar’s conglomerate Industries, said it has signed a memorandum of understanding with Algeria with establish one steel plant with annual capacity of 5 million tons.

The plant will locate in the industrial zone of Bellara with initial phase of construction to produce 2.5 million tons of long products. And it will produce long, flat and special steel products to 5 million tons in the second phase.

Qatar Steel will hold 49% stake of new company and Algeria will hold the rest.