New Tire Factory Breaks Ground in Oran, Algeria: A Boost for Local Manufacturing
On July 20th, 2024, the Algerian Investment Promotion Agency (AAPI) announced the commencement of a significant investment project in Oran: the laying of the foundation stone for a new tire factory. This marks a critical step in bolstering Algeria’s industrial capacity and supporting the burgeoning automotive sector. The project is poised to have a substantial impact on the local and national economy.
A 54 Billion DA Investment: Boosting Tire Production and Local Economies
This ambitious project, a partnership between Algerian firm El Hadj Larbi Industries and China’s Doublestar Group, represents a significant investment of 54 billion Algerian Dinars. The factory will manufacture tires for both light and heavy vehicles. The facility is designed to produce an impressive 7 million units annually. The AAPI highlights the project’s strategic importance, noting its potential to stimulate local economic growth and create a robust network of subcontractors to support vehicle manufacturing initiatives already underway in Algeria. The groundbreaking ceremony was attended by key figures, including AAPI Director General Omar Rekkache, the Governor of Oran Samir Chibani, and Kamel Moula, President of the Algerian Economic Renewal Council (CREA), along with other local officials.
The creation of this tire factory is expected to make a positive impact in the African market, and demonstrates that Algeria is improving its infrastructure and is actively seeking out partnerships with global leaders to improve the country’s manufacturing.
Keywords
Related Keywords: Tire Production, Tire Factory, Oran, Algeria, New Factory, Construction, 54 Billion DA Investment, Tire Plant, First Stone Ceremony, Factory Opening
