ALGERIA: Property and land prices boom as Renault formalises JV deal
Algerian land and property prices are sky-rocketing following Renault's decision to start a joint venture with the Entreprise National des Vehicules Industriels (SNVI).
The agreement provides for the construction of a manufacturing plant in Oued Tlelat, south west of Oran, to build Renault Group passenger cars and LCVs, mainly for the Algerian market, with the project formerly named 'Renault Algeria Production' at a ceremony in Roubia.
Renault and SNVI will work with Algeria's Fonds National d'Investissement (FNI) to produce cars from 2014 in a move announced during a recent visit by French President, Francois Hollande, keen to build commercial bridges with the country's former colony.
Reports in Algeria focus on spiralling land and property costs near the planned site that appear to have risen two and half times, with an initial 500 jobs created and up to a further 5,000 potentially in the pipeline.
Other speculation notes up to 30 small and medium sized businesses could be created in the automotive supplier field.
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
Renault has posted an operating margin of EUR583m (US$628m) million in the first half of 2013, although recorded a provision of EUR512m to cover its exposure in Iran....
Sales growth of 34% in the first half of this year has catapulted Suzuki into the UK top 20, ahead of Volvo and Mazda and nibbling at the heels of Renault....
BMW reportedly is to buy a stake in British company Chargemaster which produces and installs half of the UK's charging points for electric cars....
Renault says it is studying closely new sanctions imposed against Iran by the US as domestic manufacturer, IKCO, claims a tentative agreement has been been reached to build CKD Clio type 3 and 4 model...
The Renault-Nissan Alliance has sold its 100,000th "zero-emission" car. In other words, electric....
India's low car penetration levels makes it one of the most attractive opportunities for the global automobile industry, Nissan Renault global boss Carlos Ghosn told the Times of India....
Nissan is planning to set up two new regional distribution centres to supplement its current single operation in Chennai....
- COMMENT: US JLR plant likely to get a warm welcome
- THE WEEK THAT WAS: Interesting, interesting...
- VEHICLE ANALYSIS: Mitsubishi's top-selling PHEV
- VEHICLE ANALYSIS: 2014 Peugeot RCZ R
- VEHICLE ANALYSIS: 2014 Kia Sportage
- JLR eyes US southern states 'transplant' - paper
- Tatkata airbag recall extended to 7.8m US vehicles
- JLR-Chery JV opens China factory
- Daimler restructures cooperation with Tesla
- LA DEBUTS: BMW X5 M & BMW X6 M
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- PLDB - vehicle cycle plan database (annual subscription)
- Global light vehicle safety systems market- forecasts to 2029
- LMC Automotive's European Passenger Car Production Estimates (annual subscription)
- Ford Motor Company - Strategy and SWOT Report