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2/13, 3:25 PM (Source: TeleTrader)
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Nissan to set up Algerian JV with Groupe Hasnaoui

Nissan Motor Co. Ltd. announced on Wednesday it will set up a joint venture in Algeria with Groupe Hasnaoui and noted the two companies will invest a total of $160 million in a new Nissan car plant in the African country.

According to the carmakers, the vehicle plant is set to create over 1,800 jobs and will have the capacity to produce 63,500 passenger cars and light commercial vehicles per year.

"Nissan will bring new models and innovative technology to meet the growing expectations of customers in Algeria," Peyman Kargar, senior vice president and chairman of the Africa, Middle East and India region for Nissan, stated. "Working with Groupe Hasnaoui, we already have a strong heritage of excellent products and service in the country. Using our Japanese engineering expertise, we will build a manufacturing hub and work to develop the supplier industry," he added.

Breaking the News / NP