It’s just jizya in the form of a car.
How about giving the West 10 years of free oil for developing their oil fields? How much you want to bet that the French taxpayer is subsidizing this business venture in some way?
It’s all smooch smoochy between the French Left and the Algerian Islamos.
Renault plans Algeria plant in symbolic move
Published: 18 Dec 2012 16:53 GMT+01:00
Updated: 18 Dec 2012 16:53 GMT+01:00
Renault will sign a pact Wednesday to build its first plant in Algeria during a highly symbolic visit by President François Hollande to the former French colony, a company spokeswoman said.
“Renault will sign the agreement tomorrow,” she said, confirming press reports.
According to France’s Le Figaro newspaper, the factory will be located in the second city of Oran and will be geared to the burgeoning local market.
Car sales in the north African country are expected to touch 450,000 units this year against 300,000 in 2011. Renault already holds a 25 percent market share.
According to the daily, the Algerian state will hold a 51 percent stake in the venture and Renault will hold the rest.
It will produce the Renault Symbol, a saloon based on its Clio compact sold mainly in markets where hatchbacks are not traditionally favoured.
The plant will have an initial capacity of 25,000 vehicles annually from 2014 and will rise to a maximum yearly output of 75,000, according to Le Figaro.
Algeria is an important supplier of oil to France, hundreds of French businesses operate there, and France is its top trade partner.
Hollande goes there on a two-day visit Wednesday, accompanied by a dozen government ministers and senior executives from top French firms.