Algeria and Qatar have signed a deal to jointly build a steel plant in Bella, 300km east of Algiers, which on completion will boast of a production capacity of 10 million tons of steel per year.
Besides this two countries have signed eight more agreements during a visit to the north African country by Qatari Amir Shaikh Hamad bin Khalifa Al Thani.
They signed co-operation accords in the maritime transport, oil and gas and petrochemical sectors, said a report in the Gulf Daily News.
The agreement to jointly build a steel plant in Bella, 300km east of Algiers was signed in the presence of Algerian President Abdelaziz Bouteflika and the Qatari Amir, said the report, citing Algeria's state-run APS news agency.
The industrial complex will have a production capacity of 10 million tons of steel per year, helping Algeria to slash its total import costs by an estimated $10 billion annually, according to Algerian sources.