Peugeot Algeria Project: “Bouchouareb slated to decide On Wednesday”

The President and CEO of the Condor Group, Abderrahmane Benhamadi, said in a statement to “Echorouk” that the Peugeot Algeria project file has witnessed some progress.

In this sense, he said that the shareholders will meet on Wednesday at the Ministry of Industry and Mines in Algiers in an attempt to restart the stalled project, stressing however that the government will have a final say on the matter.

According to the CEO of Condor Group, which is a shareholder, amounting to 15.5% of this project, initiated by the 51/49 investment rule, for the benefit of the Algerian side, the case has remained under consideration since the recent  visit paid by French Premier Manuel Valls to Algeria, whereby the partnership agreement of the Peugeot factory due to be built in Oran, was to be finalized but didn’t finally materialize on the occasion.

Moreover, in a previous interview, he said that this partnership will be the production of Peugeot and Citroën vehicles in Algeria in order to eventually export these products, noting that at first, we will discuss the assembly of three Peugeot and Citroen models. 

The Condor Group will be entrusted in the process with making some of the equipment such as bumpers, exhausts, seats, brake pads and other car items.

This production is expected to stop the import of spare parts that will to be manufactured locally. 

This major automobile project aims to create 1,000 to 1,500 jobs within three years of its launch and also seeks an ambitious 40% integration rate, by 2022, with a cost not exceeding 100 million Euros.