Algeria’s National Iron Production Company (SNS) and the Agricultural and Rural Development Bank (BADR) signed a memorandum of understanding to complete and operate the Ouled Moussa steel and iron project in Boumerdes province. The agreement was signed by SNS CEO Adel Khman and BADR CEO Mohand Bouraï, with senior officials from both institutions in attendance, it was reported.
According to a statement from the company, the memorandum aims to combine the efforts of both parties to revive and operate this important industrial project. The initiative is expected to increase national steel production, create new jobs, and better utilize local mineral resources, the statement said.
The statement also emphasized that the partnership represents the start of an effective collaboration between the public industrial and financial sectors. It was highlighted as a significant step within Algeria’s broader vision to strengthen industrial sovereignty and enhance the role of the metallurgical sector in the national economy.
Algeria’s efforts to boost steel production are further reflected in recent data. According to the World Steel Association, the country’s crude steel production reached 330,000 tons in June 2025. The total production in North Africa amounted to 1.28 million tons, with Algeria accounting for the second-largest share in the region.
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