Mercedes-Benz among investors in country

Algerian military wants 'effective role' in national economy

GMT 13:31 2012 Thursday ,22 March

Arab Today, arab today Algerian military wants 'effective role' in national economy

Algerian military
Algeria - Sofiane Siyoucef

Algerian military The Algerian military reportedly wants to play an important part in the national economy. The security force is involved in projects similar to those launched by the Egyptian and Turkish armies who are known for their high stakes in the economic market.  The Algerian military has in the last few months made a number of business deals with foreign investors in various strategic industrial sectors.
The increase in the North African country's military budget in 2012 to $10 billion was considered the highest of Algeria's ministerial budgets.
A minister on Wednesday also welcomed the CEO of Mercedes Benz in Europe, Africa and Asia, Peter Alexander Trittin. The two discussed the company’s projects in Algeria and focused on new vehicle-factories for cars, trucks, four-wheel-drives and buses in Al-Roubia, Taiarat and Hamimin valley.
Talks also included the integration of the industrial sector into various productions programmes. A cooperation programme between Algeria, the UAE and Germany led to three projects.  In March 2011, the government signed a contract to establish two joint Algerian-Emirati companies in the mechanical industry in partnership with Arab investments and other public institutions. The target production line for those companies is 8500 vehicles annually with all Benz models to reach 16,500 vehicles annually in five years.
This project will also allow the launch of important programmes in vocational training at the National Company for industrial vehicles, in addition to creating 3,500 job opportunities in research and development.
Algerian defence declared at the end of last year a shareholders’ agreement between the general assembly for the mechanical industry in Khanchala and the subsidiary company Karkal of the Tawazon group of companies in UAE as per the agreed protocol between the two companies. The new company premises, to be called Karkal Algeria, will be in Khanchala.
The Karkal global complex, located in Abu Dhabi is considered the first weapons producer in UAE. It produces individual pistols that were introduced in 2007 and is the biggest financier for police and armed forces in the UAE and other Gulf countries.  

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