Thursday 26 May 2011

Aabar's car plants in Algeria due to start production - The National

Production of up to 10,000 vehicles a year in Algeria is expected to start this year as the UAE seeks closer ties with the North African country.

Aabar Investments , owned by the Abu Dhabi Government, signed a deal in August 2009 with the Algerian government and five German companies to construct three manufacturing plants in the country to build cars, lorries, coaches and engines.

The deal is at the forefront of the Government's aim to boost trade and investment with Algeria as the country's economy diverges from the troubles entangling its near neighbours. Production should start this year, Karim Joudi, the Algerian minister of finance, said in Abu Dhabi yesterday.

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