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.