APS : Sunday, 22 July 2018
TIZI-OUZOU- The Statutes of the Algerian-Indian joint venture Vijai Electricals Algerie, specializing in the manufacturing of high voltage transformers were signed Sunday in the headquarters of Tizi Ouzou prefecture.
The signing of the Statutes by the associates, namely the Algerian public electrical industry company of Azazga (subsidiary of Group Elec El Djazair) of Azazga which detains 45% of the shares of the Vijai Electricals Algerie, Indian company Vijai Elecrticals Limited (40% of the shares) and the National Company of Electricity and Gas (Sonelgaz, 15% of Shares), marks the creation of this new industrial unit.
The joint venture was created following the signing of MoU in December 2017 in Algiers between the public company specializing in the manufacture, marketing and distribution of electric transformers and motors, Electro-industry and the Indian group Vijai Electricals Limited.
The MoU was inked in the presence of the CEOs of these two industrial companies respectively Djilali Bentaha and Dasari Jai Ramesh, and CEO of Elec El Djazair Group, Kinane El Djilali, and the representative of Sonelgaz.
The social capital of Vijai Electricals Algerie which will be built on an area of 33 hectares during 22 months is fixed at 1400.98 billion dinars.
Once operational, it will create 358 permanent jobs and will reach an industrial integration rate of 45% to 60% after 6 years of operation.
Vijai Electricals Algerie will have a production capacity of 115 units / year with a total power of 8,300 MVA. This allow Algeria to construct transformers of different voltages ranging from 40, 60 to 120 and 300 megavolt amperes (MVA) and voltages of 60/200 and 400 kilovolt amperes (KVA), said the delegate of Vijai Elecrticals Limited in Algeria, Mostefai Farid.
The production of this factory, “the first of its kind in Africa” will be destined for the national market. Sonelgaz currently imports this type of transformers which transport cost alone accounts for between 20% and 25% of the total cost of the product.