Signing of an agreement between the Algerian Investment Promotion Agency and the STELLANTIS Group

The Algerian Agency for the Promotion of Investments proceeded on Tuesday, November 29, 2022, to the signing of an agreement with the international automobile construction group “Stellantis”, for the launch of a project for the assembly and construction of Fiat vehicles, in Algeria.

This agreement was signed at the headquarters of the Agency, by its Director General, Mr. Omar Rakkache and the representative of STELLANTIS Group, Mr. Hakim Boutahra, in the presence of the Minister of Industry Mr. Ahmed Zaghdar and the Executive Director of Operations in Africa and the Middle East within the STELLANTIS Group, Mr. Samir Cherfan. It is involved in the implementation of the framework agreement signed on October 13, 2022 with the same Group, for the establishment and the development of automotive manufacturing, after-sales services and spare parts activities under the ” Fiat”, one of the group’s brands; this, within the framework of the policy of the State as regards the development of the automotive sector.

During the signing ceremony, Mr. Omar Rakkache confirmed that this project will receive all the support and accompaniment of the Agency, like the real structuring investments that the Agency aspires to attract and see materialized.

For his part, Mr. Cherfan indicated that the Fiat plant in Oran will start production at the rate of 10 vehicles per hour, i.e. 60,000 per year initially, to be quickly increased to 15 vehicles per hour, i.e. 90 000 per year, to reach 1 million vehicles per year by 2030 for the Africa and Middle East zone, with an integration rate of 70%.

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