November 7, 2018 / 9:20 AM / 6 months ago

UPDATE 1-Algerian firm Cevital to invest and create 1,000 jobs at PSA French site

(Adds detail on jobs and comment from Macron)

By Marine Pennetier

CHARLEVILLE-MEZIERES, France, Nov 7 (Reuters) - Algerian company Cevital has agreed to set up a plant making water treatment machines at part of an eastern France site run by carmaker PSA, creating 1,000 jobs in a potential boost for President Emmanuel Macron.

The deal will see Cevital buy up parts of the site at Charleville-Mezieres freed up by PSA in order to make machines for the water treatment business.

Macron, grappling with low poll ratings and signs of a slowdown in the economy, welcomed Cevital’s investment, which was announced during a tour of northern France to mark the 100th anniversary of the end of World War One.

Macron told reporters that Cevital’s investment would do much to help the region, which has historically had problems with high unemployment rates.

Cevital’s website says the company is the biggest private firm in Algeria, with $4 billion of revenues and 18,000 staff around the world. (Reporting by Gilles Guillaume and Marine Pennetier; Editing by Sudip Kar-Gupta and Leigh Thomas)

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