Nissan announced, on February 13, 2019, the creation of a joint venture with its Algerian partner group Hasnaoui for the launch of a car assembly plant in Algeria.
Located in Oran (in the West), the plant will require a $160 million investment. The site which will start production in H1, 2020 will have a yearly production capacity of 63,500 vehicles, Peyman Kargara, senior vice president and chairman for Africa, Middle East and India region for Nissan, indicated during the signing ceremony in Algiers.
“This new plant falls within the framework of the group’s aim to double its presence in the Africa, Middle-East and India region by 2022 ; In Africa, it will add to South African, Egyptian and Nigerian plants to increase our production capacity to 200,000 cars per year”, he added indicating that the project will generate 1,800 direct jobs.
Groupe Hasnaoui will own 51% of the project against 49% for Nissan.
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
World Bank announces $137 million to boost West Africa digital economy Program expands broad...
ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...
The United States is exploring Morocco as an alternative fertilizer supplier amid Middle East disruptions. About 22% of U.S. fertilizer imports,...
Atlantic Lithium secured agreements to raise $16.4 million to fund development of the Ewoyaa lithium project in Ghana. Ghanaian investors could...
System to enable tree-level traceability from forest to export Reform targets data gaps, fraud risks, and weak sector oversight Gabon's government...
Seaturns launches 2 MW wave energy pilot in Mauritius Project tests grid-connected technology with potential expansion to 10 MW Initiative reflects...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...