FRST MADE-IN-ALGERIA HYUNDAI TRUCKS ROLL OFF ASSEMBLY LINE

BATNA, — The first Hyundai truck assembled at the Global Motors Industries plant in this northeastern Algerian city has rolled off the assembly line Tuesday in the presence of Industry and Mining Minister Abdeslam Bouchouareb and Republic of Korea Ambassador to Algeria Park Sang-jin, and the Prefect of Batna Province, Mohamed Salamani.

The assembly plant in the industrial zone of Batna will assemble by late 2016 some 15,000 vehicles and plans to raise its annual capacity to 22,000 units in 2020, according to officials of this private investment Algerian-Korean partnership.

The plant represents a 7.0 billion dinar (about 64 million US dollars) investment and has a an annual capacity to produce 3,000 trucks, 200 buses, 50 coaches, 250 tractors and 250 tractor engines.

According to the officials, the factory which currently employs 450 workers, aims to achieve, within five years, a 40 per cent integration rate through local sub-contracting and bring its workforce up to 2,000 employees.

The Korean ambassador hoped that this cooperation will progress “beyond the assembly to move towards the manufacturing with the production of 100 per cent Algerian spare parts,” saying that this investment supports the Algerian economy and local development.

For the Minister, this project, launched in parallel with others, is part of the diversification of the national economy and allows to create a basis for an automotive industry, stressing that the assembly is a necessary first stage in this progress.

Bouchouareb stressed on encouraging sub-contracting to gradually increase the integration rate of locally manufactured parts.

The Minister urged car dealers to invest in sub-contracting so as to become manufacturers, considering that the Complementary Finance Law 2015 and the Finance Act 2016 give significant benefits to such activities.

Algeria will not remain a car-importing country forever since it has huge potentials and ambitions to launch a national car industry, he added.

 

Source: Name News Network