Algeria-Iran: 15 cooperation and agreements for automotive industry

Reporting "Asre Khodro",Ten agreements in the automotive industry have been signed.

Many agreements between the Algerian group Tahkout and Iranian car manufacturer Saipa for the establishment of a great complex, with an implementation cost amounts USD 300 to million, made up of fifteen factories in Tiaret, west of Algiers. The complex will include a car passenger car-manufacturing factory and another factory for commercial vehicles. 

The other factories to be implemented part of this partnership will specialize in subcontracting and spare parts, Director of Saipa-Algeria project at within the Iranian car-manufacturer Ahmed Ismaili stated.

The Algerian partner will have 75% of the capital of future company Saipa-Algeria against 25% for the Iranian partner, the same official stated.

In this partnership, the Iranian party will contribute with its technological expertise in the manufacturing of cars running on CGN.

Another automotive industry agreement has been signed between private group Rahmouni and Khodro manufacturer for the assembling of cars in Algeria.

According to these agreements, two factories will be built in Algiers and Relizane to assemble cars running on CGN.

Furthermore, a draft agreement between Algeria's Geological Survey Agency and its Iranian counterpart was inked to establish a cooperation framework in the mining research.

In this regard, The Algerian standardization institute (IANOR) signed a draft agreement with its Iranian counterpart to ease trade exchange between Algeria and Iran while bringing closer both countries' standards.

The Algerian Company of Fairs and Exhibitions (Safex) and the Iranian Agency for Foreign Trade signed an agreement to facilitate Algeria's participation in Iranian exhibitions and shows, and vice-versa.

Source: ennaharonline.com