Algerian Qatari Steel Signs $1.6 Billion Agreements During IATF
Algerian Qatari Steel has signed
a series of commercial and strategic agreements exceeding USD 1.6 billion,
enabling “AQS” to export its products to more than 40 African countries during
its participation in the 4th edition of the Intra-African Trade Fair (IATF) held
in Algiers.
As part of these deals,
Algerian-Qatari Steel signed a USD 1.2 billion agreement with Shelter Bank for
African Development and Investment to market the company’s products across 40
African countries. This agreement aims to finance development and infrastructure
projects in African countries using “AQS” products and marks a major step
forward in the company’s expansion across the continent.
In addition to this landmark
agreement, the company concluded four other deals with three major African
companies, worth a total of more than USD 420 million, to export its products
to several African countries, including:
An agreement with Sahel Strategic
Partnerships Limited to export the company’s products to Nigeria, Equatorial
Guinea, Burkina Faso, and Ghana under a USD 121 million contract.
An agreement with Unisteel S.A.
to export products to African countries under a contract exceeding USD 195.62
million.
An agreement with Al-Najah
Al-Raeda Company for Industrial Engineering to export products to Libya under a
USD 103 million contract.
These agreements build on the
company’s successful track record of exporting its products across the
continent. Thanks to these efforts, Algerian-Qatari Steel was honored by the
President of the Republic, Mr. Abdelmadjid Tebboune, as the top exporter to Africa
in 2024, and recognized as one of the leading Algerian companies contributing
to increasing non-hydrocarbon exports.
The company affirms that this
strategic step is a turning point in consolidating its position as one of the
leading players in Africa’s steel and iron industry, actively contributing to
strengthening economic cooperation and advancing joint development