Aabar Investments PJSC ("Aabar") has signed a shareholders’ agreement and articles of association with the Algerian government (amongst other parties) in relation to the creation of a joint venture company in Algeria that will manufacture automotive products in Algeria.

The joint venture company is the first of three companies that will be set up between the parties.  Aabar’s stake in the joint venture company is 24.5% of the company’s capital for which Aabar’s initial capital contribution is approximately Euro 4million.

His Excellency Khadem Al Qubaisi, Chairman of Aabar, said "we are very excited to be embarking on this project with the Algerian government.  We believe that this joint venture, and the two joint ventures to follow, will facilitate the development of other opportunities between the parties as the trust and the relationship between the two governments grows stronger.”

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