As forecast earlier this week, Renault has signed an agreement with Algerian state interests to form a joint venture to make cars in Algeria.
The agreement provides for the construction of a manufacturing plant in Oued Tlelat, southwest of Oran, to build Renault Group passenger cars and LCVs, mainly for the Algerian market.
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The new JV will be owned 51% by Algerian state interests and 49% by Renault.
The plant’s annual 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. The first model to be manufactured there will be New Symbol.
See also: ALGERIA: Renault to ink assembly deal tomorrow as car market booms
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