ALGERIA

Fiat Signs Deal for Vehicle Joint Venture in Algeria

Fiat of Italy and the state-owned Entreprise Nationale Production Vehicules Particuliers (ENPVP) on 24 June signed a draft agreement for a joint venture to assemble 40,000 passenger cars and commercial vehicles annually at Ain-Bouchekif, some 150 miles south-west of Algiers. Fiat will hold an initial stake of 36% in the venture, valued at some $23mn, rising ultimately to 49%, and will supply the project with components worth...