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Industries Qatar enters into Algerian iron steel joint venture

In Doha, the Qatar Exchange 20 Index declined 0.31% to 8,247.49 points. The country's second lender by assets Commercial Bank of Qatar was one of the few gainers in the financial segment, closing 0.43% higher at QR69.50. Shares of Industries Qatar slipped 0.40% to QR131.50. Earlier in the day, the bourse's bellwether confirmed media reports that Industries Qatar will built in the east of Algeria an iron and steel factory with a 5 million tonnes-a-year capacity. The joint venture will be held 49% by Qatar and 51% by Algeria. Financial details were not disclosed.