PHOTO
Close-up view of the electrical system and engine components of a modern car in a machine shop. Image used for illustrative purpose. Image courtesy: Getty Images/ Aire Images
APTIV Company is planning to build a car cables plant in Algeria following an agreement with the Industry Ministry, Algerian press said on Thursday.
Representatives from the US-Irish automotive technology supplier headquartered in Switzerland met officials in Algiers on Wednesday to discuss the project.
The Arabic language daily Elkhabar said the project would produce electrical cables for vehicles as a joint venture with an Algerian company.
The project is intended to slash imports and achieve self-sufficiency in automotive cables to supply the mushrooming car manufacturing firms in Algeria, the paper said, quoting Industry Ministry officials.
Algeria has lured in several global car makers as part of a drive to attract investment in the industrial sector and boost exports.
Earlier this year, APTIV had opened a production facility in Morocco at a cost of around 450 million Moroccan dirhams ($45 million).
(Writing by Nadim Kawach; Editing by Anoop Menon)
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