• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

SA firm in UAE armoured vehicle venture

Feb 22 2011 16:08
Abu Dhabi  - The United Arab Emirates (UAE) plans to make armoured vehicles in the Gulf Arab state in a joint venture with South African defence firm Paramount, an executive said on Tuesday.

The project between Paramount and Abu Dhabi's International Golden Group will have an initial $100m investment, said Paramount executive chairperson Ivor Ichikowitz.

Production in the UAE may start as early as 2013, he said. Paramount will hold a 50% stake in the business.

"The joint venture will see a full technology transfer and manufacturing facilities in the UAE," he told Reuters on the sidelines of a defence exposition.

"The full-scale production will involve an initial investment of $100m plus indigenisation of design suitable for the Middle East region."

The UAE is investing heavily in building a local defence industry through partnerships with international companies.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote