in Defence

Paramount forges top level ties with Saudi

Posted 5 July 2019 · Add Comment

Saudi Arabian Military Industries (SAMI) and South Africa’s Paramount Group, have signed a high-level defence collaboration agreement, in step with Saudi Arabia’s vision for the creation of an integrated defence industrial ecosystem.


The multiple collaboration agreement between SAMI and Paramount Group will see the development of technologies and capabilities across the land, sea and air domains, as well as system integration, in support of Vision 2030, Saudi Arabia’s economic development plan, which sets an ambitious objective to increase the domestic share of military equipment expenditure to 50% by 2030.

CEO of SAMI, Dr. Andreas Schwer, said: “This will contribute significantly to further enhancing the capability of Saudi Armed Forces and increasing local content, in addition to creating new job opportunities and training for Saudi youth to increase their contribution and raise their role in this vital industry and the national economy in general.

He added: “Paramount Group has an established track record of working in partnership with customer countries, helping to create local defence industrial capabilities through technology and skills transfer. We believe there are many synergies between our companies that can be leveraged to build the defence industrial capability that Saudi requires.”

Paramount Group’s chairman, Ivor Ichikowitz, (pictured below) said: “Saudi Arabia is important to Paramount Group as much of the technology that we have created over the years has been developed with the Middle East in mind. We share the vision of the Crown Prince and his economic development plan. We are sensitive to the requirements of our customers to establish strategic industrial capability and put a strong focus on assisting governments in creating domestic manufacturing capacity.”
“Both the technology and expertise now have huge relevance to the security realities facing the Middle East. We have also invested very heavily in developing some of the most modern land forces, aviation, and naval platforms in the world. These platforms have allowed us to compete amongst the best in the world for both developed markets, as well as emerging markets.”
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Paramount Group’s Mbombe 4x4 meets NATO STANAG 4569

Paramount Group has announced that the Mbombe 4x4, the newest addition to its advanced Armoured Personnel Carrier (APC) family of vehicles, has received final certification for the independently verified blast tests which exceeded

IATA Regional Aviation Forum opens in Nairobi

The IATA Regional Aviation Forum in Nairobi was officially opened this morning by Aaron Munetsi, director of government and international affairs – AFRAA.

IATA Forum: The importance of air transport in Kenya

The International Air Transport Association (IATA) presented its latest study on the economic value of air transport and tourism to Kenya at the IATA Regional Aviation Forum in Nairobi and identified opportunities for significant

EgyptAir in codeshare with United Airlines

EgyptAir has entered a codeshare agreement with United Airlines.

Desert dust’s open season on engines

Maintenance trends in Africa map the prevailing weather conditions. During the Harmattan season, for example, MROs usually notice a spike in engine-related events.

Ethiopian launches ‘Feel Addis’ app

Passengers flying Ethiopian with layover between 8 and 24 hours in Addis Ababa are set to have their end-to-end layover experience transformed in a whole new way with the launch of the airline’s digitised transit package dubbed Feel

AVMENA20 SK1309100620
See us at
AVMENA20 BT1309100620Dubai AS BT2006211119MEBAA BT2006260919AVAFA20BT2207050320