Abu Dhabi investment firm Aabar has announced it has signed what it calls ÔÇ£a potential landmark dealÔÇØ with the Algerian government to develop a network of vehicle and engine manufacturing plants in the country.
 
Aabar is teaming up with five German firms, including truck manufacturer MAN Ferrostaal and car maker Daimler to carry out development and production.
 
The other companies taking part are engine manufacturers Deutz and MTU, as well as automotive firm Rheinmetall. Man Ferrostaal will lead the project, while the other four companies will act as technology partners, providing licences and intellectual property.
 
Under the terms of the agreement, up to 10,000 cars and trucks will be assembled each year from 2010, in new or modernised plants in Tiaret, Ain Smara and Oued Hamimine.
Potential products for manufacture include Sprinter, Unimog, GÔÇÉType, Fuchs and other four-wheel-drive vehicles and engines.
The announcement reflects AlgeriaÔÇÖs ongoing plans to establish an industrial base for itself.
AabarÔÇÖs chairman, HE Khadem Al Qubaisi, said in a statement: ÔÇ£Aabar are delighted to be working with the Algerian Government and some of GermanyÔÇÖs leading technology companies on this exciting new venture.
ÔÇ£With this important investment, Aabar continues to develop opportunities through our partnership with Daimler.ÔÇØ
The value of the deal has not yet been disclosed.
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