|Date: 15/07/2012 Time: 11:15:00 PM
Algeria, the United Arab Emirates (UAE) and
Germany signed here Sunday three contracts to establish three companies to
produce vehicles and engines.
The contracts were signed between the Algerian defense ministry, Abu
Dhabi's investment fund, Aabar, and German companies Daimler, Deutz and MTU,
the ministry said in a statement.
A plant will be built in east Algiers to manufacture 15,000 Mercedes-Benz
trucks and buses every year. Production will start next year.
The second contract stipulates the establishment of a Mercedes-Benz factory
to produce 10,000 vehicles of different sizes as of 2013.
The third contract states that a company will be established to manufacture
engines carrying the brand "Mercedes-Benz and Deutz." This plant will produce
26,000 engines cooled by water. Production set to start in 2014.
The German companies will participate as as technology partners providing
licences and intellectual property.