According to the online newspaper TSA, "the project of setting up the plant of the French manufacturer passed Sunday, November 12th its last stage with the signing of the contract between the various parties, on the occasion of the visit to Algiers of two French ministers . "The contract will be signed tomorrow morning (today -NDLR) at the International Conference Center (Club des Pins)," adds TSA.

The project involves the construction of a vehicle assembly plant near Oran with an investment of 120 million euros. "We will start with a capacity of 25,000 vehicles to reach 75,000 units in a few years. The integration rate will be 42% after five years. The shareholders' pact was not changed: the capital of the plant is divided between PSA (49%), PMO Constantine (20%), Condor (15.5%) and a pharmaceutical operator (15.5%) .

The same source adds that "the business plan of the project has undergone some changes". "Models initially planned are excluded," says this source, without giving details. The Peugeot 208 could be removed from the range of vehicles that will be assembled in the future Algerian plant of the PSA group. "The Citroën C Elysée and the Peugeot 301 are maintained," says TSA according to which states that PSA could produce the new SUV 3008.

Original Source : algerie-focus.com

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