French car manufacturer Renault inaugurates first plant in Algeria
French car manufacturer Renault on Monday inaugurated its first plant in Algeria.
French foreign minister Laurent Fabius and economy minister Emmanuel Macron along with Algerian prime minister Abdelmalek Sellal took part in the ceremony in the western Algerian city of Oran.
The first new Renault car rolled off the assembly lines on Monday.
An initial production capacity of 25,000 cars a year could rise to 75,000 though no timetable has been given.
The plant is due to produce the Renault Symbol especially for the Algerian domestic market - Algeria is the second biggest car market in Africa with 400,000 vehicles imported per year.
The multi-million-euro plant is owned 51 per cent by the Algerian state through Renault Algérie production and 49 per cent by the French manufacturer Renault.
The joint venture is the result of an agreement signed by President François Hollande in 2012.
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