President Abdelmadjid Tebboune chaired a cabinet meeting today, during which he discussed the Algerian-Omani partnership, which included an automobile manufacturing project and several other industrial projects.
According to a statement from the Algerian Cabinet, President Abdelmadjid Tebboune ordered “full attention to investment projects and the implementation of the recommendations and decisions of the leaderships of the two countries in various sectors, particularly those related to agriculture and the automobile industry (Hyundai), as well as the project to establish an Algerian-Omani maritime transport company, in addition to launching a maritime line linking Algeria and Muscat.”
As a reminder, Hyundai Manufacturing Algeria holds a prior license to manufacture vehicles locally, and information indicates that the real estate and industrial area to host the Hyundai factory in Algeria has been selected.
This important investment project is part of a strategic partnership between the Omani Bahwan Group (SAUD BAHWAN Group) and its subsidiary OTE, on the one hand, and the Korean Hyundai Group, on the other, with an investment estimated at approximately $180 million.
This factory will be built according to Hyundai’s international standards, including a vehicle body production line, a painting line, and various production lines for passenger cars, utility vehicles, and electric vehicles.
The project aims to establish a solid industrial base in Algeria that will serve as a gateway for exporting manufactured vehicles to North African countries, while ensuring a significant local integration rate that contributes to the development of the national supply chain.
The Algerian government seeks to provide full support to industrial projects, with the aim of creating a true vehicle and spare parts industry. The Algerian president’s recent decision aims to accelerate the implementation of the Hyundai factory project, which Algerian citizens are eagerly awaiting, especially given the great popularity of the Korean brand’s cars in the Algerian market.
