Renault car assembly in Algeria in good progress

The installation of a car assembly plant by French car maker Renault in Algeria is making progress, said visiting French minister for industrial renewal on Sunday. The official APS news agency quoted Arnaud Montebourg as saying in a joint press conference with Algerian Minister of Industry Cherif Rehmani that "the setting up of a car assembly plant by Renault in Algeria is making good progress." However, the joint venture, scheduled to be set up by mid- September for the installation, is yet to be established. The framework agreement on the installation of a Renault car assembly plant in Algeria was inked on May 25, 2012, as a result of 15 months of talks. In accordance with the agreement, the Renault plant will produce 75,000 vehicles per year at the beginning, and progressively reach 150,000 vehicles per year, part of which would be exported. During his one-day visit to the North African nation, Montebourg also held talks with Algerian Minister of Post and Communication and Information technologies, Moussa Benhamadi. Visits of French top officials to Algeria have multiplied since Francois Hollande was elected French president in May.