S\u00e3o Paulo \u2013 Volkswagen plans on having a factory in Algeria, according to information published this Wednesday (5th) by the L\u2019Expression<\/i> newspaper and the DZ Autos<\/i> e-magazine, both in the Arab country. According to the two media vehicles, the project involves investment of US$ 150 million.<\/p>\n
The proposal provides that the German automaker will hold a 49% stake in the business. The remaining 51% should be divided among the Algerian government, through its National Investment Fund, and the Sovac company, which represents the brand in the North Africa country.<\/p>\n
According to L\u2019Expression<\/i>, at least two meetings have been held between the interested parties to address the matter, and a third one should take place in Germany this month.<\/p>\n
According to the project, in the first phase, the Polo and Polo Classic models may be manufactured, and later on, the unit should also start making utilitarian vehicles.<\/p>\n
The proposal also holds that the parts used should reach a nationalization rate of 40% within 30 months of the beginning of operations. For such, according to L\u2019Expression<\/i>, a local parts supply chain will need to be developed. <\/p>\n
The Algerian minister of Industry, Mohamed Benmeradi, had already addressed the topic in December. \u201cVolkswagen is adamant about coming [to Algeria],\u201d said he, according to Alg\u00e9rie Presse Service (APS)<\/i>, the country’s government news agency. \u201cWe have had interesting talks with the [VW] group,\u201d he added.<\/p>\n
Renault <\/b><\/p>\n
Renault is also interested in having a factory in Algeria. According to the APS<\/i>, negotiations between the French carmaker and the Algerian government are progressing. Similar to VW’s case, a new meeting to address the matter should take place this month. The project provides for a unit with a production capacity of 75,000 vehicles per year.<\/p>\n
According to L\u2019Expression<\/i>, Algeria is the second largest market for the industry in Africa, after South Africa, with approximately 200,000 vehicles sold per year. According to the Reuters<\/i> news agency, the country imported 67,800 vehicles in the first half of last year. In 2009, Renault alone sold over 50,000 units in Algeria, a figure equivalent to 23.5% of the market, according to Reuters<\/i>.<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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