The JV will produce motors for washing machines manufactured by Cevital and other partners.
On July 1, his son Malik Rebrab, who has previously held high positions in Cevital, will take over as CEO.
Rebrab is the seventh-richest man in Africa, with a net worth of $5.1 billion.
Rebrab is the founder and owner of Cevital, the country's leading private group.
The long-time ally of the late former Algerian President Abdelaziz Bouteflika appeared before a court in Fellaoucene yesterday.
