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Qatar partners with Algeria to build steel plant

Qatar Steel International has signed an agreement with the Algerian Qatari Steel Co to set up a steel plant in Algiers, the Peninsula has reported. Under the terms of the deal, Qatar Steel International, equally owned by Qatar Steel Co and Qatar Mining, will hold 49% of the new company, while Algeria, represented by Sider Co and National Investment Fund, will hold a 51% stake. The engineering and construction works are expected to take around four years, the firm said.