Peugeot, the multinational automobile manufacturing firm, has sought to extend its reach and expand its business further than the shores in which it lay in and where better to do that than in Africa where they boast a very good number of loyal customers?
Picking Northern Africa as an ideal set-up base, Peugeot has launched the project of a car manufacturing plant in the country which is soon to be finalized according to the words of the Algerian Minister of Industry and Mining in person of Abdeslam Bouchouareb.
Speaking in Paris on Tuesday, the Minister said “It is nearly finalized as there are only two points to address.” This was in reply to a question put forward to him by APS shortly after he concluded a meeting with MEDEF International.
The two points he mentioned need addressing including the signing of a shareholder’s pact on the general project to ensure smooth running of the car manufacturing plant.
Last September, the Minister had made mention of the fact that there were ongoing talks on an agreement between the French and Algerian investors and all plans would be made final and official, citing “the nearest future” in his speech.
The plant has prospects to make some of its products available for exports.