Japanese automobile manufacturer Nissan Motor Co. Ltd., a subsidiary of France’s Renault, has inked a joint venture (JV) agreement with Algerian construction to agriculture company Hasnaoui Group to construct a car assembly plant at a cost of $160 million.
The plant, located near Oran in northwest Algeria, is due to begin production in the first half of 2020 with a capacity of 63,500 vehicles per year.
Hasnaoui will hold a majority stake in the project, which is anticipated to create 1,800 jobs.
The company said that the transaction also includes training of the plant’s employees by Nissan.