Algeria, UAE finalize contracts and co-operation agreements

The Grouping of the promotion of mechanic industry, coming under the National Defence Ministry and Emirati Holding \"Tawazun\" and its subsidiary \"NIMR Automotive\" have finalized Sunday in Algiers all the contracts and co-operation agreements, the ministry said in a release. \"As part of the execution of the program of military products development, under short, average and long term partnerships and the implementation in compliance with set deadlines des, an important delegation form Emirati Group Tawazun and its subsidiary NIMR Automotive is being currently in Algeria from 24 to 27 August 2013,\" the same source added. \"During its stay, the delegation chaired by Saif Mohamed Al Hajeri, CEO of Tawazun Holding and by Fahad Saif Harhara, general manager of Nimr-Automotive finalized with the a public establishment of industrial and commercial character, Group of the promotion of the mechanic industry (Epic-GPIM) of the National Defence Ministry, all the contracts and the agreements at the ministry’s headquarters,\" the release indicated. Moreover, the Emirati delegation defined with its Algerian counterpart, the different stages of the production launch, in preparation of the manufacturing of the first vehicles from Khenchela Plant as from December 2013, the release added. Finally, an agreement of investment on this program has been inked with the National Agency of Investment Development (ANDI), the ministry release concluded.