The creation of the Algerian-Indian joint venture by LD Azouaou, a single-member limited liability company (Eurl) under Algerian law and the Indian group Mahindra LTD in Tizi-Ouzou, for the assembly of agricultural tractors, will generate up to 500 direct jobs as well as 1000 indirect ones.
The signing by LD Azouaou Chief Executive Officer Lahlou Azouaou and the head of international operations at Mahindra LTD, Arvind Mathew of this agreement establishing an administrative and legal mechanism for the creation of this company was held at the headquarters of the LD Azouaou unit for the assembly of Mahindra agricultural tractors, located in the industrial zone of Oued Aissi, Tizi-Ouzou (103-km east of Algiers).
Under the agreement, the Indian partner will hold a minority stake while LD Azouaou will retain a majority stake.
“Thanks to this joint venture, Mahindra will further strengthen its presence in Algeria and allow LD Azouaou assembly unit to export tractors to certain markets, particularly; North African and European ones,” Mr. Azouaou pointed out.
For his part, Mr. Arvind, recalled that the company he represents is present in 40 countries and sells more than 330,000 tractors a year on a worldwide scale, adding that Mahindra has been present in Algeria since 2010.
This project, whose realization cost exceeds 2.5 billion dinars, “will create 220 jobs in 2018 to reach 500 ones in 2019,” said Mr. Azouaoua, adding that up to 1000 indirect jobs will also be created at the level of the distribution network, which will be established in different provinces “.
Speaking at this ceremony, the local director of Industry and Mines, Moula Hamitouche, described the project as a tractor assembly unit and the manufacturing of “intelligent” agricultural equipment.
The President of the Province’s People’s Assembly, Youcef Aouchiche, for his part, highlighted the importance of this project in terms of creating jobs and wealth, reaffirming the availability of the PPA to accompany this investor in his efforts to obtain the necessary authorizations to enter into production.
Asked about the operation entry of this tractor assembly unit with an annual production capacity of 3,000 tractors / year, the Director of Industry and Mines indicated that the authorization of entry into operation will be delivered by concerned authorities to LD Azouaou “incessantly”.
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