Arab Today, arab today renault algeria investments to reach €800m at middle term
Last Updated : GMT 13:31:46
Arab Today, arab today
Arab Today, arab today

Renault Algeria, investments to reach €800m at middle term

Arab Today, arab today

Arab Today, arab today Renault Algeria, investments to reach €800m at middle term

Renault Algeria
Algiers - APS

The project of Renault plant in Oued Tlelat (Oran) has cost, to date, nearly €50 million while the investments are planned to reach up to €800 million in the medium term, CEO of the Shareholding Management Company (SGP) industrial and agricultural equipment, Dehimi Bashir said Saturday in an interview to APS.
"Investments in this project are planned to reach €400 million in a first phase when production will increase from 25,000 to 75,000 cars per year, before reaching €800 million in the phase of the manufacturing an annual average of 150,000 cars," says Dehimi.
The inauguration of the Renault factory of Tlelat Oued and the release of the first car of its assembly lines, scheduled for next Monday, "will mark the birth of car industry in Algeria," he argues.
Asked about the contribution of Algerian SMEs to the development of this project to increase the rate of national integration, the official admitted that the development of the sub-contracting fabric represented, since the launch of the Renault plant in Algeria, "a major concern."
While the objective set is to achieve national integration rate of 42% by 2019 in the manufacturing of Renault-branded car, the first car to be released from Oued Tlelat factory, which includes some plastic parts produced locally, has allowed an integration rate of 17% which will increase to 25% in 2015, said the CEO of the SGP.
But before the end of 2014, the cars’ manufacturing chain plans to integrate the seats which will be produced in Algeria and so, to increase by 7% the integration rate, he stressed.
This phase will be followed by the gradual integration of electrical harnesses, cables and batteries produced by Algerian SMEs.
Concerning the marketing of Algerian Symbol car, the same official said that customers could order it on November 11, the day after the official opening of the plant.
"These cars will be sold at affordable prices," he says while arguing that the delivery deadlines will also be "reasonable".
The 51% of stakes of the Joint RAP company are detailed by the Algerian side (34% by the National Society of commercial vehicles -SNVI- and 17% by the National Investment Fund-FNI-) while 49% of the stakes are held by the French manufacturer Renault.

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Arab Today, arab today renault algeria investments to reach €800m at middle term Arab Today, arab today renault algeria investments to reach €800m at middle term

 



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