December 18, 2012 / 7:11 AM / in 5 years

Renault to sign Algeria factory deal on Wednesday

PARIS, Dec 18 (Reuters) - French automaker Renault will sign on Wednesday an agreement to build its first factory in Algeria, a spokeswoman told Reuters, confirming a report in daily newspaper Le Figaro.

The agreement will coincide with a visit by French President Francois Hollande and will be signed by the group’s regional manager, Jean-Christophe Kugler, and Algeria’s industry minister, the spokeswoman added.

Le Figaro said in a preview of its Tuesday edition that Algeria would own 51 percent of the factory, with Renault holding the rest. (Reporting by Gilles Guillaume; Writing by Elena Berton; Editing by Christian Plumb)

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