Renault and Nissan extend buying partnership

PARIS (Reuters) - France's Renault (RENA.PA: Quote, Profile, Research) and Japan's Nissan Motor (7201.T: Quote, Profile, Research) said on Tuesday they would boost their programme for joint purchasing which celebrates its seventh anniversary.

The Renault-Nissan Purchasing Organization (RNPO) will cover 90 percent of the purchasing turnover of the alliance and purchases will reach 60 billion euros ($93.76 billion) in 2008 compared to 58 billion in 2007.

The portion was previously 83 percent.

RNPO will now support the next wave of global investment for the alliance through such projects as the new plants in India and Morocco, it said.

(Reporting by Marcel Michelson, editing by Elizabeth Fullerton)