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Hyundai ready to set up a factory in Algeria
Automobile industry
The automobile brand ”Hyundai” has expressed its willingness to set up a factory in Algeria, in accordance with the company’s international standards, allowing the production of three (3) models of tourist vehicles, as well as two types of utility vehicles of the brand.
This statement was made during a meeting between the Minister of Industry and Pharmaceutical Production, Mr. Ali Aoun and a delegation including senior officials of the Hyundai company and the Omani Commercial Enterprise (OTE Group) to present the automobile manufacturing project of this brand in Algeria. This was announced in a statement from the ministry, adding that this meeting comes within the framework of the implementation of the policy of the Ministry of Industry and Pharmaceutical Production for the revival of the automobile industry activity.
On the occasion, the minister listened to a detailed presentation by the head of the Hyundai company in the Middle East and North Africa (MENA) region, Tarek Mosaab, affirming that the project “will fall within the framework of the (Algerian) government’s policy, aimed at creating a real automobile industry, with the achievement of a considerable integration rate.”
According to the same source, “the company’s officials expressed their willingness to set up a factory in accordance with the company’s international standards. The project design will take into account, from the outset, the creation of a body construction line and an automobile painting line. Three (3) models of Hyundai brand passenger cars will also be produced, in addition to two types of utility vehicles, and even electric vehicles.” Regarding the choice of land, the minister stressed “the need to accelerate the registration on the digital platform dedicated to this purpose as soon as possible in order to realize this project,” according to the statement.
It should be recalled that a new Executive Decree amending and supplementing the provisions relating to the exercise of the vehicle construction activity in Algeria was published in the Official Journal last May. This text aims to strengthen the supervision of this strategic industry while encouraging investment and local production. In this new text, the prior authorization application file is now more precise. It includes, in addition to the application, specifications, a declaration of probity, a copy of the company’s statutes, the tax identification number, a copy of the electronic trade register and, where applicable, a protocol or partnership agreement.
Manel Z.