Algerian-Emirati €1.6-billion steel plant in Annaba

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An Algerian-Emirati steel plant, worth €1.6 billion, will be built in Annaba (600-km east of Algiers), announced, Sunday, the director of communication of SIDER-Annaba, Hichem Bamoun.

Approved at the end of March by State’s Participations’ Council, the company, subject to Algerian law, will be installed on the site of the El Hadjar complex, in the commune of Sidi Amar, under the name “Emarat Dzayer Steel”,  indicated the same official.

Under this partnership, the Sider group will hold 31% of the shares of the company, the Sider El Hadjar complex 20% and Emirati partner Group Dzayer Emarat 49%, he added, pointing out that this investment is “strategic and ambitious for the Algerian steel industry “.

In addition to promoting the steel industry, this project will generate 1,600 direct jobs and will allow the reintegration of the seamless pipe manufacturing unit into the steel fabric of Annaba through the integration of 400 workers in this unit.

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