ALGIERS- A memorandum of understanding was signed, Monday, between the Algerian Qatari Steel company in partnership with the group Sider, subsidiary of Iron and Steel Industry Group IMETAL and the company TAMAGA, to export 20,000 tons of reinforcing bars to Mali and Niger, said the group IMETAL in a communiqué.
For a period of one year renewable, this memorandum was signed between Algerian Qatari Steel company (AQS) in partnership with the Sider group, a subsidiary of the IMETAL group, and Tamaga (SARL), which is a company incorporated under Algerian law, represented by Mr. Souakri Azzedine, in his capacity as co-manager, for the export by sea via the port of Djendjen (Jijel) of 20,000 tonnes of concrete rod to the ports of Senegal and Benin, to be transported respectively to Mali and Niger, said the same source.
This signature comes in application of the orientations of the President of the Republic, Mr. Abdelmadjid Tebboune, to revitalize the national economy despite the pandemic linked to Covid-19, added the same press release.
“The purpose of this non-binding memorandum is to study the feasibility of establishing and developing possible bilateral economic cooperation between the two parties, with a view to placing orders and marketing steel products,” the statement pointed out .
“Through the policy advocated by the CEO of the IMETAL Industrial group, Mr. Bouslama Tarik, which tends to encourage the export operation of steel and metallurgical products for the conquest of new market shares in Africa, this operation of ‘export will, undoubtedly, help to increase the country’s foreign exchange reserves,’ concluded the same source.