Algeria is gradually turning into a steel exporting country with another large steel producer advancing in its plans to take some market share overseas.
Algerian Qatari Steel (AQS) has recently signed a non-binding memorandum of understanding (MoU) with Tamaga Company to export some 20,000 mt of rebar to Mali and Niger to be shipped from Djen Djen port. The agreement, which also involved Sider Group and some private companies, comes in line with Algerian president Abdelmadjid Tebboune’s guidance to boost the national economy after the Covid-19 pandemic, the memorandum says. Besides conquering new markets, this agreement will enable an increase in the country’s foreign exchange reserves, the parties to the memorandum are convinced. The agreement was signed for a period of one year and is renewable, SteelOrbis has learned.
As a result, AQS is to become the second serious steel exporter from Algeria, while Tosyali Algerie, the Turkish investment in the country, was the first domestic steelmaker to start regular shipments from Algeria to the US and Europe, and has been targeting to expand its presence in the African markets. AQS is capable of 500,000 mt wire rod and 1.5 million mt rebar production per year.