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QNA
Algiers
Minister of Energy and Industry HE Mohammed bin Saleh al Sada on Monday visited the Algerian-Qatari joint venture steel plant at Bellara, in Jijel, Algiers.
The project, covering an area of 216 hectares, is the first of the cooperation agreement signed between Qatar and Algeria in 2013. Qatar Steel holds 49 percent stake, while Algerian group Sider has 51 percent stake in the project.
The plant's production capacity will gradually increase and reach in the coming year to around 2 million tonnes of steel, a statement said.
Sada's visit to the project followed his participation in the celebration held on Sunday in Algiers on the occasion of the second anniversary of the Algiers Agreement, which paved the way for the historic Vienna agreements to cut oil production by the end of 2016.
The Organisation of Petroleum Exporting Countries (OPEC) held its extraordinary meeting in Algeria in September 2016, chaired by Sada, who was at that time the president of the OPEC conference. The meeting aimed at restoring balance to the world oil market.
Two months after the meeting, the OPEC and its allies agreed to reduce their oil production by 1.8 million barrels per day
Sada also participated in the meeting of the Joint Ministerial Control Committee which monitors the level of commitment to the historic agreement.
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25/09/2018
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