Most Read

  • We Will Rock You tour of SA postpones to 2022
    Showtime Management and international partner Selladoor Worldwide have postponed the South African tour of the We Will Rock You musical to 2022. South Africa is currently in its third wave of Covid-19 infections and, as such, the government has implemented precautions that only allows for a total audience of 100 people.
  • #YouthMatters: Leigh-Anne Salonika, founder of OnlyKind
    From East London to some of South Africa's most storied agencies. After winning on global stages and achieving what she set out to on the inside of the corporate advertising machinery, Leigh-Anne Salonika is living her purpose, and in doing so working with brands to unlock theirs By Evan-Lee Courie
  • 6 critical PoPIA compliance steps to take before 1 July
    The eleventh hour is upon businesses who are not Protection of Personal Information Act (PoPIA) compliant. The effective date of 1 July is upon us. By Rian Schoeman
Show more

Marketing & Media jobs

More...Submit a jobOpen account

Africa

More...Submit news
Advertise on Bizcommunity

Subscribe to industry newsletters

French carmaker PSA to begin Algeria production in 2018

ALGIERS - French carmaker PSA signed a deal with three Algerian firms to set up a car-manufacturing base in the North African country with production to begin next year.
Photo: Shafee & Associates
After two years of negotiations, the joint venture deal was inked at a ceremony attended by Algerian Foreign Minister Abdelkader Messahel and his French counterpart Jean-Yves Le Drian.

The first Peugeot and Citroen models will roll off the assembly line next year at a plant in a suburb of Oran, 400km west of Algiers.

Under the deal, worth 100 million euros, PSA will own 49% of the joint venture with the remaining 51% shared between Algerian firms Condor Electronics, Palpa Pro and Entreprise Nationale de Production de Machine-Outils (PMO).

Jean-Christophe Quemard, PSA executive vice president for the Middle East and Africa, said the Oran factory should be fully operational by 2019.

Quemard said 75,000 Peugeots and Citroens would be produced annually for the next five years, but without specifying the specific models.

PSA is hoping to sell 700,000 vehicles a year by 2021 across the Middle East and Africa, and one-million cars by the year 2025.

Quemard said the agreement -- signed as part of the Franco-Algerian joint economic committee -- will create 1,000 jobs initially.

Sunday's ceremony was also attended by French Economy Minister Bruno Le Maire and Algerian Industry Minister Youcef Yousfi.

Once one of Africa's largest car markets, Algeria is embarking on an ambitious programme aimed at replacing hundreds of thousands of foreign imports with domestically produced vehicles.

It hopes to develop its domestic automobile industry to counter a sharp drop in the price of oil, its main source of revenue.

The industry has been given incentives to produce more models after the government radically slashed imports.
Source: AFP



SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
Comment

Related

News

Let's do Biz