Arcelol Mittal plans for investments of 2.5 billion dollars in Algeria and negotiations of Gar Jbeilat mines are on
Last Update: 14/09/2008 13:55:42 ArabSteel - Arcelor Mittal is in the process of completing the development process of the production units, which it has started in Arcelor Mittal- Annaba complex, for which 75 million dollars have been allocated. This process had started in 2007 and will end in 2008. According to the Algerian Al Khabar newspaper, Mr. Bernard Poski, the general director of Arcelor Mittal – Annaba compound said that Arcelor Mittal is endeavoring to invest 2.5 billion dollars to set up a new compound for the steel industry in Jijel state in case they are given the green light by the Algerian government to start with execution of the project. Mr. Poski said,"Execution of the project in Jijel will boost Arcelor Mittal's production capacity of crude steel up to 2.8 million tons in its mills in Algeria". Mr. Poski also pointed out the Arcelor Mittal's plan in Algeria will extend for five years, aiming at developing the capabilities of both the production and mining capacities. An amount of 7 million dollars has been allocated to reach a production capacity of 3 million tons per year in Al Wenza and Bou Khadra mines over the next three years. Development of the production of the mines is expected to result in enabling Arcelor Mittal- Annaba complex to produce two million tons of crude steel. The same official disclosed existence of talks with the Algerian government to exploit the mining resources especially those of Gar Jbeilat mine which has become one of the concerns of Arcelor Mitrtal, because the recent consultations with both ministries of industry and electricity and mines have accelerated placing SONATRAC and SONLGAS as two important partners to push this huge project forward, indicating launching of the geo-technical study at the end of the current September under the supervision of international experts to draw up a study in the light of which it will be possible to know the quality of the mining materials and to enable the officials of the complex to have a comprehensive outlook on this project. It is noted that Arcelor Mittal – Annaba would stop their production units during the past period for four months as a result of technical breakdowns in the blast furnace and the rolling mill, which made the company lose 30% of its annual production plan.
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