Algeria halts steel deal with Egypt
Algeria has frozen
a $750 million deal with Egypt’s Ezz Steel, and is in talks with other
investors to replace the Egyptian firm, Algerian Industry and
Investment Minister Hamid Temmar said on Thursday.
“The project has
been affected by financial crisis and problems linked to soccer,”
Temmar told parliament, referring to a dispute between Egypt and
Algeria over qualification for this year’s soccer World Cup. “This has
led to the complete freezing of the project.”
“In order to
replace Ezz, we are currently studying projects from companies
including ArcelorMittal and (Algerian private company) Cevital,” the
minister said.
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