‘Inauguration of AQS affirms interest in developing investment relations’

‘Inauguration of AQS affirms interest in developing investment relations’

Algerian Qatari Steel (AQS) general manager and CEO Yousef Ahmed al-Muhannadi lauded the inauguration of AQS led by His Highness the Amir Sheikh Tamim bin Hamad al-Thani and Algerian President Abdelmadjid Tebboune, saying AQS is one of the most important joint strategic investments between both countries.

In an interview with Qatar News Agency (QNA), al-Muhannadi said the inauguration of the company affirms the two leaderships’ interest in strengthening and developing strategic partnerships in investment fields similar to other areas of cooperation that witness strong momentum at various levels.

He emphasised that AQS is a model for successful strategic and mutually beneficial partnerships between Arab countries, adding that the company is an embodiment and practical application of Algeria’s development vision in the industrial field.

It also achieves the goals and objectives of Qatar National Vision 2030, especially the process of foreign investment and the diversification of income sources, in addition to AQS’ role in strengthening and consolidating relations between the two countries and attracting more investments to Algeria.

AQS was established in 2013 with a capital of $2.1bn and joint ownership. The State of Qatar, represented by Qatar Steel International, owns 49% of the project value and 51% for the Algerian side.

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