Construction of a previously announced joint venture car plant at Oued-Tlelat has commenced, Renault states. The new factory, south-west of Oran, is scheduled to build the Renault Symbol from November 2014.
Renault and its Algerian partners have announced the creation of over 350 direct jobs corresponding to an initial production capacity of 25,000 vehicles per year in the project’s first phase.
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As for suppliers, the OEM says its aim is to support the development of local sub-contracting, a major component of industrial development in Algeria, while ‘transmitting’ Renault’s technology to the companies selected.
“We are proud, within the Renault Algérie Production joint-venture, to be contributing to the development of the automotive industry in Algeria through this project. I would like to take this opportunity to congratulate our team and our partners for their efforts and commitment in making this launch a success,” said Bernard Sonilhac, CEO of the Renault Algérie Production – RAP Spa joint venture.
Renault, SNVI (Société Nationale de Véhicules Industriels, Algeria’s National Company of Industrial Vehicles) and Algeria’s National Investment Fund (FNI) signed a shareholders’ agreement in December 2012 for the creation of a joint venture (owned 51 percent by the Algerian partners and 49% by Renault) to develop the automotive industry in Algeria and support local market growth. SNVI and FNI are contributing 34 and 17 percent respectively, to form the 51 percent stake.
The agreement provides for the construction of the manufacturing plant in Oued Tlelat to build Renault Group passenger cars and LCVs, mainly for the Algerian market. The plant’s production volume will start at 25,000 vehicles/year (7 vehicles/hour) and will ultimately be increased to 75,000 vehicles/year (15 vehicles/hour), based on market response.
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By GlobalDataThe current generation L35 series Symbol, a Clio-based sedan, first entered production in 2008. Two plants build it – OYAK-Renault in the Turkish city of Bursa, as well as Santa Isabel in Córdoba (it is badged as the Clio Mio in Argentina). The Symbol/Clio Mio is mostly for lower income markets in Central and Eastern Europe, Russia, Turkey, South America, the Maghreb countries and the Gulf States.
Author: Glenn Brooks
