Agreement on the construction of a Renault plant in Algeria
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Algiers- Algeria and Renault Group are about to enter into an agreement to build a vehicle plant in Algeria, according to Minister of Industry, Small Business and Investment Promotion, Mohamed Benmeradi.
- Algeria and Renault Group are about to enter into an agreement to build a vehicle plant in Algeria, according to Minister of Industry, Small Business and Investment Promotion, Mohamed Benmeradi.
The minister said Monday at the Algerian radio channel 3, that the two sides were almost about to reach an agreement to conduct a vehicle manufacturing plant in Algeria
Negotiations have advanced greatly, the minister said, adding that this partnership will be part of our legislation, namely a 51-49% partnership in which Renault will have 49%. The agreement could be signed before the end of the year, the minister added.
Algeria proposed to Renault to produce 150,000 vehicles per year of varied ranges but negotiations had stumbled so far on the issue of marketing of cars. A delegation from Renault is soon to go to Algeria to meet sixty Algerian subcontractors, from public and private sectors to integrate them into the project.
Ennaharonline/ M. O.
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