Abu Dhabi investment company Aabar and German companies cooperate with Algeria.Summary: The Abu Dhabi Abu Dhabi (ä`b  thä`bē, zä–, dä–), Arab. Abu Zabi, sheikhdom (1995 pop. 928,360), c. investment company Aabar and the Algerian
Ministries of Defence and Industry have concluded a memorandum of
understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with five German companies relating to relating to relate prep → concernantrelating to relate prep → bezüglich +gen, mit Bezug auf +acc the construction and operation of manufacturing plants for vehicles and engines in Algeria. The Abu Dhabi investment company Aabar and the Algerian Ministries of Defence and Industry have concluded a memorandum of understanding with five German companies relating to the construction and operation of manufacturing plants for vehicles and engines in Algeria. The planned collaboration Working together on a project. See collaborative software. was announced by the Algerian prime minister. HE Khadem Al Qubaisi, Aabar's Chairman said: "Aabar are delighted to be working with the Algerian Government and some of Germany's leading technology companies on this exciting new venture. With this important investment, Aabar continues to develop opportunities through our partnership with Daimler." It is intended that MAN Ferrostaal will carry out the entire project as general contractor A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. . The company is expected to modernise Verb 1. modernise - become technologically advanced; "Many countries in Asia are now developing at a very fast pace"; "Viet Nam is modernizing rapidly" modernize, develop and build production facilities in Tiaret, Ain Smara and Oued Hamimine. After this, assembly equipment for the manufacture of vehicles and engines is to be installed. It is envisaged that MAN Ferrostaal will subsequently manage their operation in joint venture companies which have yet to be established. Daimler, Deutz, MTU Friedrichshafen MTU Friedrichshafen GmbH is a manufacturer of commercial engines. It was a subsidiary of DaimlerChrysler until 2006 when it was sold off to the EQT IV private equity fund. Roughly translated from the German, MTU stands for "Motor and Turbine Union". and Rheinmetall are involved in the project as technology partners. They provide licences and proprietary rights, as well as parts sets for the manufacture of the vehicles and engines that are supplied from Germany. With the support of these partners, it is intended that the portion of local production in Algeria can be gradually increased over time, for example by identifying and using domestic suppliers. Specific products to be manufactured are the Sprinter, Unimog, G-Class and other all-wheel drive vehicles as well as engines. 2009 Mena Report (www.menareport.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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