Algerian Radio
Prime Minister Sifi Ghrieb presided over the signing ceremony of two major industrial cooperation agreements in the field of mechanical subcontracting in Algiers on Wednesday. The agreements were signed between the Eastern Maintenance Company (SME) a subsidiary of the GICA Group;and automotive industry players "Stellantis Algeria" and "Ival."
The signing ceremony took place on the sidelines of the Prime Minister's inauguration of a new brake pad and automotive accessories manufacturing plant, owned by SME. The event was attended by a high-level delegation, including the Minister of Interior, Local Communities, and Transport, Mr. Saïd Sayoud; the Minister of Industry, Mr. Yahia Bachir; and the Minister of Finance, Mr. Abdelkrim Bouzred, alongside several senior officials and economic operators.
These agreements align with the government's strategy to develop economic partnerships, support industrial subcontracting, and strengthen the positioning of national products within the local market.
Earlier, acting on instructions from the President of the Republic, Mr. Abdelmadjid Tebboune, the Prime Minister officially inaugurated the aforementioned brake pad manufacturing plant.
Located in the Réghaïa industrial zone, the launch of this facility directly translates the President's directives to valorize assets and properties recovered from anti-corruption cases. By reintegrating these confiscated properties into the national economic cycle, the state aims to transform them into profitable productive projects that generate added value, create jobs, and bolster domestic investment.
The newly inaugurated plant is expected to significantly boost national production capacities, play a crucial role in meeting domestic market demand, and reduce the national import bill, while also paving the way for future exports to international markets.
