Renault unveils framework accord on Algeria-based car-making plant

French automaker Renault has signed a framework accord to build a car factory in Algeria following two years of sustained negotiations, but the final agreement will take a little longer, a spokesperson said on Friday.

• ‘I can confirm a framework accord was signed but the negotiations continue,’ the Renault spokesperson said in reference to a report that first appeared in a French daily newspaper.

• The cars to be built at the Algerian plant would be destined for local markets the spokesperson added, while declining to provide financial details or say which model was under consideration, owing to the ongoing nature of the talks.

• Renault already makes cars in Tangiers, Morocco, most of which are shipped abroad.

• According to the report, Renault wants the Algerian plant to build an emerging-market version of its Clio II car model to be dubbed “Symbol”.

• The talks have reportedly snagged over the question of location, with Algerian officials pushing for the Mediterranean port of Jijel, east of Algiers, to boost regional development.

• The French group is said to prefer a site in suburban Algiers because it would be easier to find qualified workers near the Algerian capital.