Renault sets up car factory in Algeria

 French automobile manufacturer Renault has announced the construction of a car factory in Algeria. Renault would build the factory at Rouiba – a district on the outskirts of the capital Algiers – and would assemble the Logan and Sandero models, which are hot sales in the North African country.
 
In conformity with Algerian regulations, Renault is expected to have a 49 percent stake in the venture, partnering with state-owned SNVI. However, the French manufacturer would be running the site, the French newspaper, Le Monde said.
According to reports, Renault is setting up the factory to consolidate its number one position in the local car market. More than 17,000 Dacia-badged vehicles and 39,000 Renaults were sold in 2009, which make up almost a quarter of the Algerian automobile market.
 
The Algerian government has not made any statement to this effect but analysts say it will most likely give a green light because of country’s long-time ambition to build up an automobile industry.
 
Source :http://abdas.org/

Posted on : 21 Nov,2024 | News Source : ABNews

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