Renault to manufacture in Algeria

ERJ staff report (BC)

Billancourt, France – Renault, SNVI (Société Nationale de Véhicules Industriels, Algeria’s National Company of Industrial Vehicles) and the country’s National Investment Fund (FNI) signed a shareholders’ agreement yesterday for the creation of a joint venture (owned 51 percent by the Algerian partners and 49 percent by Renault) to develop the Algerian automotive industry and support local market growth.

SNVI and FNI are contributing 34 and 17 percent respectively, to form the 51 percent local stake.

A manufacturing plant will be built in Oued Tlelat,…

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