The construction of Peugeot car manufacturing plant in Algeria is almost complete and is set to be commissioned, minister for Industry and Mines Abdessalem Bouchouareb has announced.
Speaking in French capital Paris, Abdessalem said that once completed the shareholders pact will be signed.
“It is nearly finalized as there are only two points to address,” the minister said in reply to a question by journalists following his meeting with the MEDEF international.
According to the official, the pact will be signed during a high-level intergovernmental committee meeting, co-chaired by the prime ministers of the two countries.
Last September, Bouchouareb said the negotiations between Algerian and French partners were due to be brought to a successful conclusion “in a near future.”
Part of the plant’s production will be intended for export.
A source close to the ministry said the problem of the land for the establishment of the plant, in Oran (432-km west of Algiers), was settled, and that 25 hectares were devoted for sub-contracting.
A part of the production of the future assembly plant should be destined to export, affirmed Bouchouareb, who called the project a “complex” given its capacity of integration and subcontracting.
The construction of Peugeot car manufacturing plant in Algeria was decided during French President Francois Hollande’s last visit to Algiers last June.