Mar 28, 2017 Last Updated 9:05 AM, Mar 28, 2017

Renault opens Algerian manufacturing plant

ABN – French car manufacturer Renault (Euronext: RNO) has opened a manufacturing plant in Algeria.

The Oran-based plant is expected to produce 25,000 low cost sedans per annum.

Renault highlighted Algeria as its tenth largest market as it sold 425,000 vehicles there in 2013.

Guillaume Josselin, Renault’s sales chief in Algeria, said: “I think it’s a market that can exceed 500,000 units a year.”

A second phase will be introduced by the company that will see the plant’s production increased to 75,000 vehicles per annum.

The company owns a 45% stake in the plant, which is the first plant Renault has opened in the country since it exited the market in 1962.

@ABNetworkOnline

Nigeria set to become Africa's motor industry leader

Nigeria is set to replace SA as the African hub for the motor industry with at least 20 major international brands ready to build their vehicles there.

With three major names already building their vehicles in Nigeria, belief is firm that Nigeria has the capacity to become an important player on the global scene.

Until now, SA has dominated the African car scene. It expects to build nearly 600,000 vehicles this year and is aiming to increase this to 1.2-million by 2020.

Nigeria currently has the capacity for more than 100,000 trucks and buses but this is shared among a dozen companies. Nigeria is at the heart of a rapidly expanding West African economic region and is also closer to SA than East or central Africa.

More importantly with a growing middle class already about 40-million strong, Nigeria’s potential annual new-car market could be as high as 1 million – an attractive prospect for the larger multinationals.

BDL to build textile factory in Ethiopia

ABN – 24/10/14 – Bangladesh-based company BDL Group will build a textiles and clothes factory in Mekele town, Ethiopia.

The town administration has signed over 68 hectares of land to BDL on which to build the factory.

BDL chairman Abdul Wahed said the company chose to invest in Ethiopia because it saw great investment opportunities in the country.

He added that the factory will create jobs for almost 3,000 people.

Construction is expected to begin within two months and production to begin after nine months.

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