SPAA ALGERIA FAW TRUCKS INDUSTRIES and COSIDER ALREM, a subsidiary of the COSIDER Group, signed a new partnership agreement during a ceremony held at the Ministry of Industry. The ceremony was attended by the Minister of Industry, Mr. Seifi Ghrib, and the Minister of Water Resources, Mr. Taha Derbal, along with a number of officials and executives from both institutions, and representatives from the Chinese parent company, FAW.
This step comes within the framework of implementing the strategic directions approved by the President of the Republic, Mr. Abdelmadjid Tebboune, aimed at establishing a truly national mechanical industry and strengthening the industrial subcontracting system and local integration in the automotive sector. This partnership aims to launch a local project to produce spare parts for FAW trucks and vehicles, enabling the construction of an integrated national industrial base that will contribute to meeting the needs of local manufacturers and increasing integration rates in the sector.
The Ministry of Industry confirmed in a statement that this initiative is based on key pillars, including supporting national production, technology transfer, creating quality jobs, and reducing dependence on imports, within the framework of an integrated vision aimed at enhancing the competitiveness of Algerian companies at the local and international levels.
In his speech, the Minister of Industry emphasized that this project reflects the state’s commitment to developing a mechanical industry based on subcontracting and local integration. He noted that the cooperation between the Cosider Group and investors in the automotive sector is an important step towards expanding national manufacturing capabilities and strengthening the network of local subcontractors.
For his part, the Minister of Irrigation noted the positive momentum witnessed by the industrial sector, considering that such strategic partnerships between the public and private sectors are part of the state’s drive to enhance cooperation between various economic sectors. He also praised the pivotal role played by the Cosider Group in realizing this endeavor.
At the conclusion of the event, the two ministers expressed their full readiness to support and accompany all purposeful industrial initiatives, stressing that the government encourages any project that adds value to the national economy, within the framework of a development approach based on coordination and harmony among various stakeholders and institutions.
