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MENAFN - 22/12/2012

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(MENAFN) French carmaker Renault is set build up a factory in Algeria to meet the African continent needs, AFP reported.

This was announced by French President Francois Hollande during his visit to the North African country. The factory will be located outside Oran, a port city west of Algiers.

The accord is one of about 15 agreements being signed during the visit, on topics ranging from culture to defence

The long-negotiated joint venture will be 49 percent owned by Renault and 51 percent by two Algerian companies, Renault said in a statement.

 






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