Renault to sign agreement on Wednesday for first plant in Algeria
A company spokesperson said that Renault will sign an agreement on Wednesday to build its first plant in Algeria during the visit of President Francois Hollande .
Source : https://www.marocafrik.com/english/Renault-to-sign...
According to France's Le Figaro newspaper, the factory will be located in the second city of Oran and will be geared to the burgeoning local market.
Car sales in the north African country are expected to touch 450,000 units this year against 300,000 in 2011. Renault already holds a 25 percent market share.
According to the daily, the Algerian state will hold a 51 percent stake in the venture and Renault will hold the rest.
It will produce the Renault Symbol, a saloon based on its Clio compact sold mainly in markets where hatchbacks are not traditionally favoured.
The plant will have an initial capacity of 25,000 vehicles annually from 2014 and will rise to a maximum yearly output of 75,000, according to Le Figaro.
Car sales in the north African country are expected to touch 450,000 units this year against 300,000 in 2011. Renault already holds a 25 percent market share.
According to the daily, the Algerian state will hold a 51 percent stake in the venture and Renault will hold the rest.
It will produce the Renault Symbol, a saloon based on its Clio compact sold mainly in markets where hatchbacks are not traditionally favoured.
The plant will have an initial capacity of 25,000 vehicles annually from 2014 and will rise to a maximum yearly output of 75,000, according to Le Figaro.
Source : https://www.marocafrik.com/english/Renault-to-sign...