New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/25/2013 -- Over the past quarter, there were further key developments in Algeria's journey to becoming a car producing nation. At the end of September 2013, French carmaker Renault announced that construction work had commenced at the new Oued Tielat factory in Oran province, with hopes that the first Algerian-built car should be produced in November 2014. According to a Renault press release, the company has also started the hiring process for new workers, with the new plant set to lead to the direct creation of over 350 jobs. Successful candidates will be trained by Renault and local training centres. Renault believes that this training will be key to the success of the new plant, with the French carmaker also looking to develop a network of local sub-contractors as well.
BMI believes that vehicle production in Algeria will be transformed by this new Renault car plant. From initial output of 25,000 vehicles per annum, this will steadily rise to 75,000 vehicles a year. The first model to be manufactured in Algeria will be the New Symbol small family car. According to Renault, the local content used in these cars will be gradually increased over time, in line with the indigenous industry's ongoing development. A proportion of domestic production will then be exported.
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In October 2013, the Algeria Press Service reported that partnership agreements had now been signed between the Ministry of Defence, Aabar Investments and Daimler/Mercedes-Benz, setting out some 25 'framework and performance contracts relating to the construction of three major industrial projects in Rouiba (Algiers), Ain Bouchekif (Tiaret) and Oued Hamimine (Constantine)'. These will produce commercial vehicles and engines.
Following the signing of these agreements, the company is now expecting to begin the recruitment and training of local staff to work in these three new factories. Earlier, in June 2013, the chairman of the National Company of Industrial Vehicles, Hamoud Tazrouti, stated that the first 'made in Algeria' Mercedes-Benz commercial vehicles should be coming out of the factories at Rouiba and Tiaret during the first quarter of 2014.
This strong investment in Algeria from both Renault and Mercedes-Benz reflects the optimistic stance BMI has long held towards the local market's prospects.
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